About Nevada’s 529 Plans

Nevada’s 529 plans are college savings accounts that allow you to invest in a child’s future education. Funds invested in 529 accounts grow on a tax-deferred basis and distributions from the plan are not taxed as long as they are used for qualified educational expenses. Qualified education expenses include costs for items such as tuition, fees, books, supplies and room and board at eligible colleges, universities, community colleges and trade schools; student loan payments; apprenticeships; computers; and even K-12 education expenses. In Nevada, like many other states, we administer our own 529 plans, including our own Prepaid Tuition Program.

  • 529 plans grow tax-deferred as long as you use the funds for qualified educational expenses
  • Savings can be used nationwide for trade schools, vocational schools, community colleges and graduate school, not just four-year universities.
  • Nevada’s 529 Plans make great gifts, especially from grandparents!
  • The earlier you start saving, the more your account will grow.
How They Work

Nevada offers six 529 programs, all of which are open to anyone in any state. Our programs include the Nevada Prepaid Tuition Program and five programs administered through our Savings Plan partners: SSGA Upromise 529 Plan, the Vanguard 529 College Savings Plan, the USAA 529 College Savings Plan, the Putnam 529 for America and the Wealthfront 529 College Savings Plan. These plans are rated like other investment funds based on fees and performance. Plan account owners deposit after-tax money into these funds and they grow on a tax-deferred basis. As long as you use a 529 account for qualified expenses, you pay no tax on the earnings.

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  • Makes saving easy and affordable
  • Can be opened in minutes with as little as $15
  • Waived annual account fee for Nevada residents
  • May qualify for the Silver State Matching Grant Program
  • May qualify for the Nevada Putnam Scholarship Program
  • No annual maintenance fee
  • Open with $50 monthly contribution or $250 initial investment
  • May qualify for the Distinguished Valor Matching Grant Program
  • One of four plans ranked “Gold” by Morningstar
  • Nevada residents can open with $1,000
  • A college savings plan personalized for you
  • No advisory fees on the first $10,000 (or first $25,000 for Nevada residents)

Our 529 College Savings partners provide access to a range of matching grant and scholarship opportunities for existing account holders. These opportunities range from a $100 one-time contribution to dollar-for-dollar matching grants up to $1,500 per beneficiary. Read more below to find out if you qualify, how these grants and scholarships work, and how and when to apply.

About the Program

The Silver State Matching Grant matches contributions to your SSGA Upromise 529 account dollar-for-dollar up to $300 per year for five years for a maximum of $1,500 per beneficiary.

How it Works

There may be extra college savings dollars waiting for you, if:

  • Your household adjusted gross income is less than $75,000, and
  • You and your beneficiary are Nevada residents, and
  • You are an SSGA Upromise 529 account holder, and
  • Your beneficiary is 13 years old or younger.
How to Apply

Apply online by logging into your SSGA Upromise account. That’s how easy it is!

When to Apply

Annual open enrollment is April 1 through July 31, so plan ahead!

About the Program

The USAA Distinguished Valor Matching Grant matches contributions to your USAA 529 College Savings Plan account dollar-for-dollar up to $300 per year for five years for a maximum of $1,500 per beneficiary.

How it Works

There may be extra college savings dollars waiting for you, if:

  • Your household adjusted gross income is less than $95,000, and
  • You and your beneficiary are Nevada residents, and
  • You are a USAA 529 College Savings Plan account owner, and
  • You currently serve on active duty in the U.S. Military OR you were awarded a Purple Heart in Operation Iraqi Freedom or Operation Enduring Freedom, and
  • The beneficiary is your child and is 13 years old or younger.
How to Apply

Visit http://www.usaa.com/matchinggrant to find out more

When to Apply

USAA Distinguished Valor Matching Grants accept applications from January 1 – December 15 every year.

About the Program

The Nevada Putnam Scholarship gives Nevada Putnam 529 for America account holders a one-time $100 contribution.

How it Works

There may be extra college savings dollars waiting for you, if:

  • You are a Putnam 529 for America account owner, and
  • You or your beneficiary are Nevada residents, and
  • The account has been established for at least 12 months, and
  • The account balance, excluding award amounts, is at least $1,000.
How to Apply

Scholarship funds are applied automatically for each eligible account owner. No application is necessary.

Disclaimer

Before investing in any 529 plan, you should consider whether your or the beneficiary’s home state offers a 529 plan that provides its taxpayers with favorable state tax and other benefits that are only available through investment in the home state’s 529 plan. You also should consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state’s 529 plan(s), or any other 529 plan, to learn more about those plans’ features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.