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529 Info.The College Savings Plan of Nebraska is a qualified tuition program under section 529 of the Internal Revenue Code which governs all state programs. Under section 529, there are two types of tuition programs: prepaid and savings. Prepaid programs allow you to purchase credits or certificates at today's tuition prices to use for future higher education expenses. Typically the credits or certificates must be used at that state's higher education institutions. Nebraska's plan is a savings program. The advantage to the savings programs is the ability to use your account at Nebraska colleges or other schools nationwide and some foreign schools with favorable tax treatment on withdrawals for college expenses. In Nebraska, you also have the flexibility to choose among several investment options with well-known mutual fund families. The tax advantages, program costs, qualified expenses and investment options vary from state to state. Nebraska has worked to develop a program that is on the leading edge nationally. |
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