Maryland Financial Advisor Offers Assistance with College 529 Plans

With the new school year starting, parents cannot help but think of the expenses that come with the season, along with how these increase as their children move from one level to the next. If you are one of the many parents already thinking ahead for your child's college education, we at Financial Brokerage Services, your trusted DC and Maryland financial advisor, can help you prepare for it with 529 plans. These plans, named after Section 529 of the Internal Revenue Code, are tax-advantaged investment tools that encourage saving up for future college expenses. Also known as “qualified tuition plans,” they are sponsored by states, state agencies, and educational institutions. They come in two types: the pre-paid tuition plans and the college savings plans. The pre-paid type allows parents to purchase credits or units for tuition at participating colleges and universities. In some cases, room and board may also be included while excess credits may be used to pay for other qualified

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