Wisconsin 529 College Savings Plan


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Wisconsin 529 College Savings Plan

Wisconsin tomorrow's scholar® Program

Open an account in the State of Wisconsin's tomorrow's scholar college savings program and enjoy tax benefits at the same time you are saving for you child's college education. Earnings in the program grow state and federal tax-deferred and as long as the disbursments are used for approved educational expenses, they will also be federal and Wisconsin state tax free. Additionally, Wisconsin taxpayers may be able to deduct up to $3,000 per year from their taxable income for each beneficiary, as long as the beneficiary is a child, grandchild, great-grandchild, niece, nephew, or yourself.

Open an account with as little as $250 and if you do it with an automatic investment plan or direct deposit, that requirement is waived. Make payments of as little as $25 per month.

tomorrow's scholar offers several investment options using four fund families, Wells Fargo Advantage Funds®, Columbia Funds, Harbor Funds, and ING Funds. There are Enrollment-Based Options (or age-based) which begin as aggressive funds while the beneficiary is still young and get transferred automatically to more conservative funds as the beneficiary approaches college age. Within the Enrollment-Based Option, there are Aggressive Growth Track, Moderate Growth Track, and Conservative Growth Track.

The tomorrow's scholar program also offers seven static portfolios. These also range from very aggressive to very conservative. The difference is that funds invested in these portfolios will remain there unless you move them manually. Funds invested in any of these programs are not guaranteed and the value of your portfolio can rise or fall with the markets. Check with a financial professional to make sure a 529 investment makes sense for you. For more information, visit the tomorrow's scholar website.

Wisconsin EdVest College Savings Plan

Administered by the Wisconsin Office of the State Treasurer and managed by Wells Fargo Funds Management, LLC, the EdVest College Savings Program provides an easy way to save for your childs's (or grandchild, niece, nephew or even friend's) college education. Funds invested in EdVest grow tax-deferred and as long as they are used for qualified educational expenses, they will also be federal and state tax free. Wisconsin taxpayers can deduct up to $3,000 per year per beneficiary from their Wisconsin taxable income. To be eligible, the beneficiaries must be either a child, grandchild, great-grandchild, niece, nephew, or yourself.

EdVest provides multiple portfolios to choose for investment. There are twelve Fixed Allocation Options (age-based) ranging from very aggressive to very conservative. There are also three Enrollment-Based Options, aggressive, moderate and conservative. Check with a financial professional to make sure a 529 investment makes sense for you. For more information, visit the EdVest website.

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