529 Plans By State 2019

Paying for college can be a struggle for anyone. With tuition costs of the rise, as well as other associated expenses including books, lab fees, and room and board, students and families across the nation are looking at ways to reduce this financial burden without having to turn to student loans.

While grants and scholarships are always a great option, many families start saving for their children’s education through a 529 plan. Each state has its own plan which offers advantages to families who save for their children’s education. While this once just applied to colleges, the Tax Act of 2017 now allows contributions to be used toward primary and secondary school expenses.

Parents aren’t the only ones that can take advantage of a 529 plan. Grandparents, aunts, uncles, and others can contribute to a 529 plan to help cover educational expenses. There are two different types of plans to consider: 529 college savings plan that allow you to invest and withdraw tax-free to cover educational expenses, and prepaid plans that let you lock in current tuition rates for in-state public schools.

Many states offer state income tax benefits when a person contributes to a state-sponsored plan. A handful of states even give tax benefits for plans from other states.

The states that offer tax benefits to in-state contributors for savings plans are:

  • Alabama – CollegeCounts 529 Plan
  • Arkansas – GIFT College Investing Plan
  • Colorado – CollegeInvest Direct Portfolio College Savings Plan
  • Connecticut – Connecticut Higher Education Trust
  • District of Columbia – DC 529 College Savings Program
  • Georgia – Path2College 529 Plan
  • Idaho – Idaho College Savings Program
  • Illinois – Bright Start College Savings Program
  • Indiana – CollegeChoice 529 Direct Savings Plan
  • Iowa – College Savings Iowa 529 Plan
  • Louisiana – START Savings Program
  • Maryland – Maryland529
  • Massachusetts – Massachusetts U.Fund College Investing Plan
  • Michigan – Michigan Education Savings Program
  • Minnesota – Minnesota College Savings Plan
  • Mississippi – Mississippi Affordable College Savings Program
  • Nebraska – Nebraska Education Savings Trust – Direct College Savings Plan
  • New Mexico – The Education Plan
  • New York – New York’s 529 College Savings Program
  • North Dakota – College SAVE
  • Ohio – Ohio CollegeAdvantage 529 Savings Plan
  • Oklahoma – Oklahoma College Savings Plan
  • Oregon – Oregon College Savings Plan
  • Rhode Island – CollegeBound Fund
  • South Carolina – Future Scholar 529 College Savings Plan
  • Utah – Utah Educational Savings Plan
  • Vermont – Vermont Higher Education Investment Plan
  • Virginia – Virginia529 inVEST
  • West Virginia – SMART529 WV Direct College Savings Plan
  • Wisconsin – Edvest College Savings Plan

The states that offer benefits for any state plan are:

  • Arizona – Arizona Family College Savings Program
  • Kansas – Learning Quest 529 Education Savings Program
  • Missouri – MOST 529 College Savings Plan
  • Montana – Montana Family Education Savings Program
  • Pennsylvania – PA 529
  • The states that do not offer tax benefits for 529 plans are:
  • Alaska – University of Alaska College Savings Plan
  • California – ScholarShare College Savings Plan
  • Delaware – Delaware College Investment Plan
  • Florida – Florida 529 Savings Plan
  • Hawaii – Hawaii’s College Savings Program
  • Kentucky – Kentucky Education Savings Plan Trust
  • Maine – NextGen College Investing Plan
  • Nevada – Nevada College Savings Plan
  • New Hampshire – UNIQUE College Investing Plan
  • New Jersey – NJ BEST College Savings Plan
  • North Carolina – Carolina Foundation of North Carolina
  • South Dakota – College Access 529
  • Tennessee – TN Stars College Savings 529 Program
  • Texas – Texas College Savings Plan
  • Washington – DreamAhead College Investment Plan

The minimum contribution varies by state, with the highest minimum contribution being $250. Other states have no minimum contributions. Those states are:

  • Alabama
  • Florida
  • Illinois
  • Missouri
  • Nebraska
  • New York
  • Rhode Island
  • South Carolina
  • Utah
  • West Virginia

Of all 50 states, Wyoming is the only one that doesn’t have a state plan.

Rank State 2019 Pop. 2019 Growth
1California39,747,2670.48%
2Texas29,087,0701.34%
3Florida21,646,1551.63%
4New York19,491,339-0.26%
5Pennsylvania12,813,9690.05%
6Illinois12,700,381-0.32%
7Ohio11,718,5680.25%
8Georgia10,627,7671.03%
9North Carolina10,497,7411.10%
10Michigan10,020,4720.25%
11New Jersey8,922,5470.16%
12Virginia8,571,9460.64%
13Washington7,666,3431.74%
14Arizona7,275,0701.44%
15Massachusetts6,939,3730.54%
16Tennessee6,833,7930.94%
17Indiana6,718,6160.40%
18Missouri6,147,8610.35%
19Maryland6,062,9170.33%
20Wisconsin5,832,6610.33%
21Colorado5,770,5451.32%
22Minnesota5,655,9250.80%
23South Carolina5,147,1111.24%
24Alabama4,898,2460.21%
25Louisiana4,652,581-0.16%
26Kentucky4,484,0470.35%
27Oregon4,245,9011.32%
28Oklahoma3,948,9500.15%
29Connecticut3,567,871-0.13%
30Utah3,221,6101.91%
31Iowa3,167,9970.38%
32Puerto Rico3,113,659-2.55%
33Nevada3,087,0251.73%
34Arkansas3,026,4120.42%
35Mississippi2,987,8950.05%
36Kansas2,910,931-0.02%
37New Mexico2,096,0340.03%
38Nebraska1,940,9190.60%
39West Virginia1,791,951-0.77%
40Idaho1,790,1822.05%
41Hawaii1,416,589-0.27%
42New Hampshire1,363,8520.55%
43Maine1,342,0970.28%
44Montana1,074,5321.15%
45Rhode Island1,056,738-0.05%
46Delaware975,0330.81%
47South Dakota892,6311.18%
48North Dakota760,9000.11%
49Alaska735,720-0.23%
50District of Columbia711,5711.30%
51Vermont627,1800.14%
52Wyoming572,381-0.93%