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Kevin Van Lenten
Staff

Kevin Van Lenten asked 11 months ago in 529 Plans

529's

Are there different restrictions for each state?

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Mark Kantrowitz
FiLife Contributor
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The broad outlines of section 529 college savings plans are set by section 529 of the Internal Revenue Code. All state plans conform to those requirements. However, each individual state plan may differ in the details. For example, the maximum amount that can be contributed varies from state to state (i.e., it is typically the full projected cost of 6 or 7 years of higher education at the most expensive college in the state) as do the investment choices.

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