529 Plans by State 2024

Paying for college can be a struggle for anyone. With tuition costs on 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: a 529 college savings plan that allows 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 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, and West Virginia. Of all 50 states, Wyoming is the only one that doesn’t have a state plan.

States That Offer Tax Benefits

These states offer tax benefits to in-state contributors for 529 savings plans.

• Alabama (CollegeCounts 529 Plan)
• Alaska (University of Alaska College Savings Plan)

• Arkansas (GIFT College Investing Plan)
• Colorado (CollegeInvest Direct Portfolio College Savings Plan)
• Connecticut (Connecticut Higher Education Trust)

• Delaware (DE529 Education Savings Plan)
• District of Columbia (DC 529 College Savings Program)
• Georgia (Path2College 529 Plan)

• Hawaii (Hawaii's College Savings Program)
• Idaho (Ideal College Savings Program)
• Illinois (Bright Start College Savings Program)

• Indiana (CollegeChoice 529 Direct Savings Plan)
• Iowa (College Savings Iowa 529 Plan)
• Kentucky (KY Saves 529 Education Savings Plan Trust)

• Louisiana (START Savings Program)
• Maine (NextGEN College Investing Plan)
• Maryland (Maryland529)

• Massachusetts (Massachusetts U.Fund College Investing Plan)
• Michigan (Michigan Education Savings Program)
• Minnesota (Minnesota College Savings Program)

• Mississippi (Mississippi Affordable College Savings)
• Nebraska (Nebraska Education Savings Trust - Direct College Savings Plan)
• New Jersey (NJ BEST 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 my529 Educational Savings Plan)

• Vermont (Vermont Higher Education Investment Plan)
• Virginia (Virginia 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), and Pennsylvania (PA 529 and PA ABLE).

States That Do Not Offer Tax Benefits

• California (ScholarShare College Savings Plan)

• Florida (Florida 529 Savings Plan)
• Nevada (Navigate College Savings Plan)
• New Hampshire (UNIQUE College Investing 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)