College Resources & News from CFNC

This tax-advantaged savings plan allows you to invest now for your child’s education, with the promise of tax-free growth and tax-free withdrawals for qualified education expenses when the time comes. But how exactly does the tax-free distribution on a 529 plan work, and what do you need to know to stay compliant with the tax code?

As a parent, you want to ensure your child has the brightest future possible, including access to higher education. Unfortunately, attending college or a career school can be expensive, even if your child is lucky enough to get a scholarship. That’s why it’s important to start saving for their college education as early as possible.

Before deciding to initiate a 529 rollover, you should understand the limitations of where this money can move and what it can be used for. (Yes, it still needs to be used for education purposes to avoid taxes, penalties, and fees.) Learn how to move your hard-earned savings from a 529 plan to another account and make the most of your leftovers!

Most people would say the NC 529 plan’s top perk is its tax benefits. Earnings grow and remain tax-free when withdrawn for qualified education expenses. But every now and then, the unexpected happens, and you may consider withdrawing funds for non-qualified expenses. Or maybe you have leftover funds sitting in the account after your child has graduated from college and aren’t sure how else to use them.

Explore our list of qualified education expenses for your 529 savings account. From tuition to school supplies, your savings can help with many college costs.

When you open a 529 plan in North Carolina, it's crucial to understand how it works. Learn the most important 529 account rules, and how to properly withdraw funds.

If you’re thinking about opening an NC 529 Account to save for your child’s college or K–12 education, it probably comes as no surprise there are do’s and don’ts for that too. Don’t fret, we’ve put together the ultimate guide to using 529 funds, so you can confidently “do” all the “do’s” when the time comes.

Figuring out how to pay for college can be daunting, but a great education is priceless, so it’s worth it for families to plan ahead. We believe it’s never too early to start planning for a college education with an NC 529 Account. Here’s a list of seven benefits of college savings accounts.