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A Comprehensive Beginner's Guide to Understanding 529 College Savings Plans in 2020

In this video, I'm going to go over exactly what a 529 College Savings Plan is and walk you through the different key factors you should be looking for when you're considering opening one up. Simply defined, a 529 is a state sponsored tax advantaged education savings plan designed to be used for qualifying educational expenses, including school tuition, room & board fees, books & supplies and even college meal plans. The first 529 plan was founded at the Michigan Education trust in 1986 as a College Tuition Savings plan, but over the years as more and more 529s began to emerge, the definition has grown to cover more types of educational expenses - and most recently in 2019, this investment vehicle's scope expanded to include K-12 private school tuition as well as registered vocational and trade school tuition, - like culinary institutes, cosmetology academies and film schools. 529 School Look Up Tool: ✔️✔️✔️✔️✔️✔️✔️✔️ Don't forget to LIKE &