- You designate who gets the benefit of your savings, and you can change that designation at any time. Unlike some other saving options that turnover the control of the funds to the student when they turn 21 years old, or 23, or 30.
- You control how much is contributed to your account, when it’s done (weekly, monthly, paydays, birthdays, graduation, Christmas or other special occasions), and how it’s done (check, automatic transfers, direct deposit, rollovers).
- You determine what expenses will be covered by your savings, or not. Maybe all or some of the tuition. Or just books and supplies. The laptop and printer but NOT the sports car or the spring break trip.
- You can have the withdrawals go to you to pay expenses, the Beneficiary, or the school.
You can open as many accounts, for as many Beneficiaries as you want, with the same flexibility to change the Beneficiary as we mentioned previously.
You control the investment mix for your account(s) and you can change the mix for any or all of your accounts twice a year. Or rollover the funds into a different plan.
529 accounts never expire even if you do. You name the successor to the account, and can change them at any time.
