The best gifts do not always come in boxes. They come with a future.
A 529 education savings account with the DC College Savings Plan is a gift that lasts a lifetime—and unlocks a world of opportunities for your child.
This article is sponsored by the DC College Savings Plan.
Unwrap the possibilities: A 529 plan gives them options
For just $25, you can enroll and help set your child up for success.1 No matter what path your child chooses, the DC College Savings Plan is a smart, tax-advantaged way to save.
Plus, there are tax benefits for both of you. All potential earnings are tax-deferred, and withdrawals for qualified education expenses are completely free from federal and District taxes.2 District of Columbia taxpayers are also eligible for a generous state tax deduction of up to $4,000 for individuals ($8,000 for married couples or domestic partners filing jointly, who have separate accounts).
Give the gift of tax-free savings
Savings can be withdrawn tax-free for a wide range of qualified education expenses, including tuition, books, computers, and room and board for K-12, college, trade or vocational school, or a registered apprenticeship.2
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Enroll online today and give a meaningful holiday gift that will grow with them.
More ways to celebrate saving: Rollover to a Roth IRA
If your child decides not to pursue higher education, you will not lose the money in your account. You can roll savings over to a Roth IRA3 or transfer the account to another beneficiary.
A gift that cannot be outgrown
Give your child something truly lasting. Unlike clothes or toys, a DC College Savings Plan account has the potential to grow with them. Enroll online today in less time than it takes to bake a batch of your favorite holiday cookies. It is a gift that fuels their future — and is just as sweet.
Make gifting more meaningful for the whole family
Friends and family can support your child’s dreams, too. After enrolling, share your unique Ugift® code to invite loved ones to contribute directly from their phone or computer. It is easy, secure, and free to use.
Lasting impact, no wrapping required
The DC College Savings Plan makes it easy to support their biggest dreams and works with any budget.
Learn more or open an account today!
1To be an account owner, you must be a U.S. citizen, a resident alien or an entity that is organized in the U.S., be at least 18 years of age, and have a Social Security number or tax identification number and valid permanent U.S. street address.
2Earnings on non-qualified distributions may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. Tax and other benefits are contingent on meeting other requirements and certain distributions are subject to federal, state, and local taxes.
3The Roth IRA must belong to the same beneficiary, and the lifetime rollover limit is $35,000. To be eligible, the 529 account must have been open for at least 15 years and the rollover amount must have been in the 529 account for 5 years. 529 to Roth IRA rollovers will also count toward annual Roth IRA contribution limits, but Roth IRA income limits do not apply for this type of contribution. For more information, please read the Program Description.
Ugift® is a registered service mark.
Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program.
For more information about The DC College Savings Plan ("the Plan"), call 800-987-4859, or visit www.dccollegesavings.com to obtain a Program Disclosure Booklet, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.
The Plan is administered by the District of Columbia Office of the Chief Financial Officer, Office of Finance and Treasury. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations including recordkeeping and administrative services. Ascensus Investment Advisors, LLC serves as the Investment Manager.
The Plan's Portfolios invest in: (i) exchange-traded funds,(ii) mutual funds and (iii) a funding agreement. Investments in The Plan are municipal securities that will vary with market conditions. Investments are not guaranteed or insured by the Government of the District of Columbia, the District of Columbia College Savings Program Trust, the District of Columbia Chief Financial Officer, the District of Columbia Treasurer, the Trustee for the District of Columbia College Savings Program Trust or any co-fiduciary or instrumentality thereof, the Federal Deposit Insurance Corporation or any instrumentality thereof.
INVESTMENTS ARE NOT FDIC INSURED, MAY LOSE VALUE AND ARE NOT BANK GUARANTEED.
