It’s the end of May and since Section 529 of Title 26 of the US Tax Code allows for “qualified tuition programs” the commonwealth of Virginia’s 529 program likes to celebrate and advertise their college savings plans. This year’s benefit: essentially a one-time match! If you open a new account before the end of May(!); set up a recurring debit which has at least 1 contribution and have $50 in the account prior to the end of August, Virginia 529 will make a $50 contribution in your account.
I want you to know what a 529 plan is and why it’s worth your consideration if you plan to help someone you care about pay for college.