<h1>How to Send Your Child to College for a Fraction of the Cost with a 529 Plan</h1>
Tyler?
Yep.
Looks like your child is going to get to go to college for one-fifth the price of his classmates?
Yep.
You must have done something illegal this time.
No. We just took advantage of a 529 college savings plan.
My wife and I each contributed $16,000 to the plan the day my child was born. We contributed another $16,000 each the day my child turned one.
This account will be worth just under $250,000 by the time your child is 18?
Yep. Thank you, compound interest.

<h2>Tax Advantages of a 529 Plan</h2>
Okay, well, we’ll take our gift tax.
No. Because the contributions were under the $16,000 max, we don’t owe you anything.
Okay, but we'll be waiting to tax some of that growth when your child takes it out to use it.
No. This is a 529 college savings plan. As long as that money is used for qualifying educational expenses, the growth is 100% tax-free.

<h2>Where Did You Learn About This?</h2>
College.
For one-fifth the price.