pay the way
saving for college
INVEST
IN
A
LEGACY
w i t h C o l l e g e C o u n t s , A l a b a m a ’s 5 2 9 F u n d
Saving for college expenses is a tough
undertaking, but by doing so, you have the
opportunity to help the children and grandchildren you love succeed. Knowing your
options and getting the facts can help make
the task easier. CollegeCounts is a 529qualified tuition program that provides
flexible investment options specifically
designed to help you build college savings.
GIVE THE GIFT OF EDUCATION. Parents and
grandparents alike can open an account and jointly contribute on
behalf of the beneficiary to celebrate birthdays, holidays,
graduations and special occasions.
TRACK THE PROGRESS. The owner of the account
is able to enjoy its progress by monitoring savings—and proudly
inform the child/grandchild when the time comes. With no
minimum or ongoing required contributions, the CollegeCounts
529 Fund is a great way to reach your college savings goals.
Account owners can also set up an automatic monthly investment
plan to make saving easier by having a smaller amount withdrawn
from their bank account each month.
EXPLORE THE FLEXIBILITY. Funds may be with-
drawn and used at colleges, universities, career technical schools
and graduate schools at one-, two- and four-year schools in
Alabama and across the United States for any qualified expenses
such as tuition, fees, books and supplies required for enrollment.
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Winter 2015
Room and board are also qualified expenses when the student
is enrolled on at least a half-time basis. If the beneficiary earns a
scholarship, the funds can be used for expenses not covered—or
the account owner can change the beneficiary to another member
of the family.
REAP THE REWARDS. Any amount contributed to
CollegeCounts qualifies for special tax benefits in Alabama,
including a generous state income tax deduction of up to $10,000
for joint filers ($5,000 for individuals) each year. In addition,
funds grow tax-deferred and will be tax-free when withdrawn for
qualified college expenses.
Don’t miss out for 2015! Contributions
made prior to December 31 will be eligible
for savings on your 2015 tax return.
COLALNEIZGEE
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ORG
ut
Need to Know Abo
Everything You
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Paying for Colle
Get ting Into and
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YOU’
www.potentialmagazine.com
ou r
on y
way!
Coming in February
A great resource for
families with teens
9th - 12th grade.