College Resources & News from CFNC

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NC 529 IMAGE Tips For Creating A Savings Planner
November 15, 2023
4 Tips for Creating a Savings Planner for College Education

Saving for higher education may seem intimidating. There are so many questions about where to start and how much to save. The uncertainty of it all could make you wonder if you should create a savings planner. The good news: we can help. Discover these four helpful tips for creating a savings planner for a college education.

NC 529 IMAGE Ultimate List Of Qualified 529 Expenses
November 15, 2023
The Ultimate List of Qualified 529 Expenses: How to Use Your Funds

As an NC 529 participant, your account earnings cover an increasingly wide range of eligible education expenses. Once money is in your account, it can grow tax-free. But before you make a withdrawal, first check that the expense is on the list of qualified 529 expenses.

NC 529 IMAGE How Does A 529 Plan Work
November 15, 2023
How Does a 529 Plan Work and Other 529 Plan FAQs

You may not know much about how a 529 plan works or why you’d want to invest in one. In fact, it’s a highly effective way to save for college, career/technical programs, K–12 tuition, and more. Keep reading to learn more about it.

November 15, 2023
NC 529 Celebrates 20th Anniversary of National College Savings Month with the Fall Into Savings Sweepstakes

The Hahns are the BIG winners of the NC 529 Fall into Savings Sweepstakes in honor of College Savings Month! Carter, their current 8th grader, will have $5,529 put into his NC 529 Account. With big dreams of heading to college and working in Formula 1 racing later in life, this is a way to “supercharge” his college savings.

NC 529 IMAGE How Much To Contribute To An NC 529 Account
November 2, 2023
How Much to Contribute to an NC 529 Account and 3 Tips for Making Contributions

An NC 529 Account can be a powerful tool to save for K–12 tuition and college costs. As an investment in the future, the money grows tax-free when it’s used for qualified education-related expenses. Getting started is as easy as investing $25, but figuring out how much to contribute to a 529 account can be a challenge for many trying to save for education.

NC 529 IMAGE How Tax Free Distribution On A 529 Plan Works
November 2, 2023
How Tax-Free Distribution on a 529 Plan Works

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?

NC 529 IMAGE Education Savings Plan Vs 529
November 2, 2023
Education Savings Account vs. 529 Plan: Comparing Options for College Savings

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.

NC 529 IMAGE 529 Rollover
October 23, 2023
529 Rollover: Approved Ways That Your Funds Can Move

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!

NC 529 IMAGE 529 Plan Penalty
October 23, 2023
529 Plan Penalty: Approved Expenses and How to Avoid Fees

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.

NC 529 IMAGE Qualified Education Expenses
September 11, 2023
7 Qualified Education Expenses You Can Pay for With Your 529 Savings

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.