Nevada 529 Plans
Nevada offers four 529 college savings plans, three direct plans, and one pre-paid called The Vanguard 529 College Savings Plan, Upromise College Fund 529 Plan, USAA College Savings Plan, and Nevada Prepaid Tuition Plan respectively.
The Vanguard 529 College Savings Plan
The Vanguard 529 College Savings Plan is a traditional 529 plan that allows you to invest money today and reap tax benefits when you withdraw it to pay for qualified education expenses.
Type: Direct – this Nevada 529 plan can be purchased directly.
Fund Family: The Vanguard Group®
Minimums: To get started you can deposit $3,000 unless you choose the payroll deduction method. With this option, you can open an account with as little as $50. The minimum subsequent contributions are $50.
Maximum Contributions: Currently, you can contribute to your Nevada 529 plan until your aggregate account balance reaches $370,000. Of course, your total amount in the plan can be higher as your investment group. 529 plans typically increase the contribution limit over time, so you may be able to contribute more.
Tax Benefits: There is no state income tax in Nevada; however, in and out-of-state participants get the federal tax benefits.
Residency: The Vanguard 529 College Savings Plan is open to all United States residents, not just those in Nevada.
You can learn more about this Nevada 529 plan at the official website Vanguard.
Upromise College Fund 529 Plan (SSgA 529)
The SSgA Upromise College Fund 529 Plan is a traditional 529 plan that allows you to invest money today and reap tax benefits when you withdraw it to pay for qualified education expenses.
Type: Direct – this Nevada 529 plan can be purchased directly through the state.
Fund Family: The Vanguard Group®
Minimums: To get started you can deposit $250, or if you choose to use the automatic monthly plan, you can open an account with only $50. Minimum subsequent contributions are $50, $15 with payroll deduction, and $25 by transferring from the Upromise® rewards service.
Maximum Contributions: Currently, you can contribute to your Nevada 529 plan until your aggregate account balance reaches $370,000. Of course, your total amount in the plan can be higher as your investments group. 529 plans typically increase the contribution limit over time, so you may be able to contribute more.
Tax Benefits: There is no state income tax in Nevada; however, in and out-of-state participants get the federal tax benefits.
Other Benefits: Through your Upromise College Fund 529 Plan, you have the option to be a part of a reward program set up by Upromise®. By making purchases with your card, the reward program offers a percentage of purchases that convert into rewards points, and ultimately convert into account contributions. Also, qualified Nevada residents can participate in the “Silver State Matching Grant Program”.
Residency: Upromise College Fund 529 Plan is open to all United States residents, not just those in Nevada.
You can learn more about this Nevada 529 plan at the official website Upromise College Fund.
Putnam 529 for America
Introduced in 2010, the Putnam 529 for American Nevada plan is an advisor-sold 529 plan.
Type: Advisor – contact your financial advisor to enroll
Fund Family: Putnam
Minimums: Please contact your financial advisor.
Maximum Contributions: Currently, you can contribute to your Nevada 529 plan until your aggregate account balance reaches $370,000. Of course, your total amount in the plan can be higher as your investments group. 529 plans typically increase the contribution limit over time, so you may be able to contribute more.
Tax Benefits: There is no state income tax in Nevada; however, in and out-of-state participants get the federal tax benefits.
You can learn more about this Nevada 529 plan at the official website
USAA College Savings Plan
USAA College Savings Plan is a traditional 529 plan that allows you to invest money today and reap tax benefits when you withdraw it to pay for qualified education expenses.
Type: Direct – this Nevada 529 plan can be purchased directly through the state.
Fund Family: USAA Investment Management Corporation
Minimums: To get started you can deposit $250 or you can choose to use the automatic monthly plan. With this option, you can open an account with $50. The minimum subsequent contributions are $50.
Maximum Contributions: Currently, you can contribute to your Nevada 529 plan until your aggregate account balance reaches $370,000. Of course, your total amount in the plan can be higher as your investment group. 529 plans typically increase the contribution limit over time, so you may be able to contribute more.
Tax Benefits: There is no state income tax in Nevada; however, in and out-of-state participants get the federal tax benefits.
Residency: USAA College Savings Plan is open to all United States residents, not just those in Nevada.
You can learn more about this Nevada 529 plan at the official website USAA College Savings Plan.
Nevada Prepaid Tuition Plan
Nevada also offers a pre-paid tuition plan that lets you lock in today’s rates for college. It can be used at any qualified institution of higher education, public or private, anywhere in the country. However, private and out-of-state college expenses will be prorated and may not be fully covered.
For more information about Nevada, Prepaid Tuition Plan visit the official website nevadatreasurer.gov.
