 The DC College Savings Plan can help you start saving right now for post-secondary education.
You can easily open an account for anyone - including yourself - with a low initial contribution of:
- $15 if you set up a payroll deduction plan with your employer,
- $25 if you set up an automatic contribution plan through a bank, or
- $100 if you send a check.
The DC College Savings Plan also offers a variety of investment options - from conservative to aggressive in risk profile - from several different companies.
Both the age-based portfolio and the single fund strategy include several socially responsible investments.
The Plan offers special tax benefits to encourage saving:
- Earnings on every penny contributed to the account accumulate tax-deferred. You pay no taxes from year to year on any earnings in the account.
- Money from the account is federal-tax-free if used for qualified post-secondary education expenses.*
As you will see, the DC College Savings Plan gives you an easy, practical way to save for education. If you see college in the future for your children, grandchildren, or other kids in your life, click here to learn more!
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