529 Savings Plan

Many states are now offering a '529' plan. This title comes from the tax code that it refers to, each state's program has its own name. Here are some examples:

Kansas's Learning Quest Education Savings Program
Colorado's Scholar's Choice
Oklahoma's College Savings Plan
Texas Tomorrow Fund

These plans are designed to help people, like yourself, save for a college education. You can save for yourself, your family or your friends. Each program is unique in what it offers. There are tax benefits, portfolio options and flexibility with withdrawals.

These programs allow your beneficiary to attend any accredited school across the nation. I would encourage you to check out The Internet Guide to 529 Plans for detailed comparisons of each state's plan. You do not have to be a resident of Kansas to be a participant in Learning Quest. I urge you to comparison shop as you would with any other investment. Not all states are currently offering such plans, but there are already over 40 programs well under way. Kiplinger's, a business magazine, also offers some great information on these 529 plans that is well worth looking over.

Sterling College does not benefit from a 529 program directly, but we provide this information as a service to our alumni and friends. If you have further questions, please don't hesitate to contact Office of Alumni/Parent Services.