Tax-Free College Savings Accounts Prove Very Popular - KALB-TV News Channel 5 & CBS 2

Tax-Free College Savings Accounts Prove Very Popular

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College savings through "529 plans" hit a record high 227-billion dollars last year. That's up about 20-percent...or 34-billion dollars...from the year before.

The popular plans allow money to be saved tax-free, as long as funds go toward approved college costs.

The average total cost of attending a public college rose to more than 19-thousand dollars this year. The total of tuition, fees, housing and board at private and more exclusive public colleges rose even more. 

 

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