College expenses: More than tuition
It’s an unfortunate fact – tuition is not the only item on a list of higher education expenses. It is joined by books, meal plans, computers, associated equipment, and room and board.
Fortunately, there’s a great way to save for these items: Virginia529 inVEST or CollegeWealth.
Virginia529 inVEST is a savings vehicle that allows you to contribute at your own pace. Open an account for as little as $25, and from there, contribute as frequently as you wish. Select from a wide array of investment portfolios, from aggressive to conservative, to meet your financial objective.
CollegeWealth offers FDIC-insured savings accounts through participating banks. You save according to your own budget and timetable, with the ability to make regular, scheduled deposits.
Plus, both Virginia529 inVEST and CollegeWealth offer Virginia taxpayers a distinct advantage: contributions up to $4,000 per account can be deducted from Virginia state income taxes.
Learn more about these programs and which one is right for your family’s savings goals.