Using a 529 Plan to Fund Ben Lippen Tuition529 Plans are educational savings plans that allow for the tax-free growth of investment funds used for qualified educational expenses. Not only can 529 Plan accounts be used to save for college, but up to $10,000 per student can be used to pay private school tuition each year.Potential Benefits Contributions to a 529 Plan are state income tax deductible. (A $10,000 contribution from a parent in the 7% state income tax bracket will receive a $700 deduction on his state income tax. This could be done for each student.)If you don't have a 529 Plan, you can open one and begin using the funds and claiming the tax deduction immediately.Parents, grandparents, and friends can use a 529 Plan to fund a child's education while retaining control over the account.If the 529 Plan funds are used to pay for qualified educational expenses, then the funds grow tax free.If you are interested in using a 529 Plan to fund your child's Ben Lippen education, fill out the contact form below. A member of our team will be in touch with you soon! I'm Interested in Using a 529 Plan to Fund Ben Lippen Tuition Name Email Address Phone Comments Thank you! Oops! Prior to investing in a 529 Plan, investors should consider whether the investor's or designated 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 such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.