Earnings in a 529 account grow federal and state income tax deferred and are tax free when used for qualified withdrawals. In some states, you may receive a states income tax deduction or tax credit on the contributions you make.

TIAA managed 529 plans have received Morningstar Medal ratings which are based on various plan attributes including low fees.

TIAA is committed to providing low cost 529 plans so more of your hard-earned money may go toward qualified education expenses. TIAA managed 529 plans have received Morningstar Medal ratings which are based on various plan attributes including low fees.

You don’t have to do it all on your own! Grandparents as well as other family and friends can make gifts to your account for maximum growth potential. You can even share secure gift codes using email, Facebook, Twitter, or printed party invitation inclusions to provide friends and family the perfect gift recommendation.

Funds can be used at any accredited university, college or vocational school nationwide — and many abroad.

Funds in a 529 plan can be used to pay for a number of qualified higher education expenses - tuition, books, room and board costs, as well as computers and related technology costs such as Internet access fees and printers. In addition, up to $10,000 annually can be used toward K-12 school tuition per student from all 529 Plans.*

 *Withdrawals for K-12 tuition can be withdrawn free from federal taxes, however tax benefits vary by State and may include recapture of any tax deduction, state income tax as well as penalties. You should talk to a qualified professional about how tax provisions affect your circumstances.

Many parents worry that a 529 plan can adversely affect eligibility for financial aid. So long as the parent is the account owner, funds are typically treated as belonging to the parent, not the child, minimizing the impact on financial aid.* And with the majority of financial aid comprised of loans, every dollar saved today may be one less dollar borrowed tomorrow. 

*The treatment of investments in a 529 savings plan varies by school. Assets are typically treated as the account holder’s and not the student’s. (Student assets are generally assessed at 20% whereas parental assets are generally assessed at 5.6%.) Any investments, including those in 529 accounts, may affect the student's eligibility to get financial aid based on need. You should check with the schools you are considering regarding this issue.