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.