Delaware 529: Grow Your Child's Future, Tax-Free!

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Delaware 529: Grow Your Child's Future, Tax-Free!

Uncover the Powerful Savings Tool That Can Help You Secure Your Child's Education

College costs are on the rise. According to the College Board, the average published tuition and fees for a full-time undergraduate student at a public four-year college in the U.S. for the 2023-2024 school year was $22,690 for in-state students and $48,507 for out-of-state students (College Board [invalid URL removed]). With these numbers ever-increasing, planning for your child's education becomes crucial.

The Delaware 529 plan offers a powerful solution to address this challenge. It's a tax-advantaged college savings plan that lets you grow your money for future educational expenses. Here's how it benefits you:

Tax-Free Growth: Contributions to a Delaware 529 plan grow tax-free federally and may be tax-free at the state level for Delaware residents, depending on your individual circumstances. (Delaware 529 - Education Savings Plan)
Flexible Investment Options: Choose from a variety of investment options tailored to your risk tolerance and investment goals.
Wide Range of Qualified Expenses: Use your savings to cover qualified educational expenses at accredited colleges, universities, vocational schools, and even private K-12 tuition (up to $10,000 per year).

Success Stories with Delaware 529

Meet Sarah, a Delaware resident who started saving for her son's college education through the Delaware 529 plan when he was just a baby. By consistently contributing and taking advantage of tax-free growth, Sarah was able to accumulate a significant amount by the time her son was ready for college. This helped him cover a substantial portion of his tuition fees, allowing him to graduate debt-free and focus on his future career.

John, another Delaware resident, used the Delaware 529 plan to not only save for his daughter's college education but also to help her with apprenticeship costs. The flexibility of the plan allowed him to support her chosen path and set her up for a successful future.

Tables - Investment Options and Qualified Expenses

Investment Option	Description
Age-Based Strategy	Automatically adjusts asset allocation based on your child's age, becoming more conservative as they approach college.
Custom Strategy	Allows you to choose from a variety of investment portfolios based on your risk tolerance and investment goals.

Qualified Expense	Description
Tuition and Fees	Covers tuition, fees, and room and board at accredited colleges, universities, and vocational schools.
K-12 Tuition	Up to $10,000 per year can be used for qualified K-12 tuition expenses.
Apprenticeship Programs	Costs associated with qualified apprenticeship programs.
Student Loan Repayment	Can be used to repay qualified student loans (up to a lifetime limit of $10,000).

Take Action Today! Secure Your Child's Future

Don't let rising college costs hinder your child's educational aspirations. Start saving with the Delaware 529 plan today and enjoy the peace of mind that comes with knowing you're investing in their future.

Visit the Delaware 529 website (DE529 Education Savings Plan | 529 Plan - Fidelity Investments) to learn more and get started. Remember, the sooner you begin, the more time your savings have to grow tax-free.