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North Carolina 529 College Savings PlanNorth Carolina's 529 Plan is administered by the College Foundation of North Carolina (CFNC). The NC 529 Plan offers account owners several tax advantages. While invested, earnings in the 529 account grow federal and state tax deferred. As long as the disbursements are made for approved educational expenses, the earnings are federal and state tax free. Additionally, North Carolina taxpayers may deduct the contributions up to $2,500 ($5,000 if filing jointly) from their taxable state income.The NC 529 Plan offers several investment portfolios. There are three age-based, conservative, moderate and aggressive. Each of these begins more aggressively and as time goes by, the funds are invested in a more conservative fashion. There are also individual portfolios ranging from aggressive to conservative. Funds invested in these will remain over time and if you want to move to a more conservative strategy as time goes on, you will need to move the funds to a different portfolio(s). You are allowed to change your investments once each calendar year, though you may put new funds into any fund that you want. Changes can also be made if the benficiary of the account changes. For more infomration on the NC 529 Plan, visit http://www.cfnc.org/save/save.jsp. You should also check with a financial advisor and tax advisor to see if a 529 investment is right for you.
North Carolina Scholarships
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North Carolina 529 College Savings Plan