National College Savings Program (529 Plan)
North Carolina's National College Savings Program was established by the State of North Carolina to enable residents of any state to invest funds to pay for higher education expenses. Parents, grandparents, relatives, friends can open an account for a person of any age, even a newborn. You can even open an account for yourself. You can contribute the amount of money that works best for you. Monthly contributions can be set up through payroll deductions. Occasional contributions are also welcome.
You can select from a variety of investment options that cover a range of strategies, from conservative to aggressive. North Carolina taxpayers may qualify for a tax deduction for the contributions to North Carolina’s 529 plan. Your earnings grow tax-free. There are NO federal taxes or, for North Carolina residents, state taxes on your earnings.
The beneficiary can use the funds for virtually any college anywhere. The beneficiary can also use the funds for expenses that include tuition, fees, room, board, books, and supplies and equipment required for enrollment.
The North Carolina Judicial Branch and Administrative Office of the Courts have
no relationship to this Program or to College Foundation, Inc. This information
is presented solely as information to employees. For more information please contact the College Foundation of North Carolina toll free at 800-600-3453 or via the internet to www.cfnc.org/Savings.
