529 Plans by State

By Brett Carolan, CFP® | Aug 29, 2023 |

The Complete Guide to 529 Plans


A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education expenses, primarily for college or other higher education institutions.

Opening a 529 plan in another state, also known as an out-of-state 529 plan, can be a strategic decision based on several factors. (If you live in Wyoming, you must open an out-of-state plan—there isn’t an in-state option.)

There are two main types of 529 plans:

  • College Savings Plans allow you to invest your contributions in various investment options, such as mutual funds. The value of your account will fluctuate based on the performance of the investments you choose.
  • Prepaid Tuition Plans: These allow you to purchase tuition credits at today’s prices for use in the future. They typically cover tuition and mandatory fees.

Why open a 529 plan in a state other than your own?

  • Better Investment Options: Some states offer 529 plans with a broader range of investment options or lower fees than what’s available in your home state’s program. By choosing a plan from another state, you can access investment funds that align more closely with your risk tolerance, investment strategy, and overall financial objectives. Lower fees and more favorable investment options can potentially lead to more significant growth in your account over time.
  • Stronger Tax Benefits: While you might receive state income tax incentives for contributing to your state’s 529 plan, some out-of-state plans offer even more attractive tax benefits. You won’t benefit from the tax deduction or credit if you live in a state with limited or no state income tax. In such cases, opening a plan in a state with strong tax advantages can be advantageous. However, carefully weigh the potential tax savings against any additional benefits your home state might offer, such as matching grants or scholarships.
  • Matching Grants or Scholarships: Some states offer unique matching grant programs or scholarships to residents who contribute to their state’s 529 plan. However, these programs often come with specific eligibility requirements and might not align with your financial situation or educational goals. If another state’s plan offers more attractive matching grant opportunities or scholarships that fit your needs, it could make sense to consider opening an account there.

College savings 529 plans by state

Many plans have no minimum contribution limit. Forty-eight states have a minimum contribution of $25 or less. The only exceptions are South Dakota ($250) and Oklahoma ($100).

State 529 Plan Name Tax Benefit for In-State Contributors?
Alabama CollegeCounts Yes
Alaska Alaska 529 No
Arizona AZ529 Yes
Arkansas Arkansas 529 GIFT Plan Yes
California ScholarShare 529 No
Colorado CollegeInvest Yes
Connecticut Connecticut Higher Education Trust (CHET) Yes
Delaware DE529 No
District of Columbia DC College Savings Plan Yes
Florida Florida 529 Savings Plan No
Georgia Path2College 529 Plan Yes
Hawaii HI529 Yes
Idaho IDeal – Idaho College Savings Program Yes
Illinois Bright Start 529 Plan Yes
Indiana CollegeChoice 529 Yes
Iowa College Savings Iowa 529 Yes
Kansas Learning Quest 529 Education Savings Plan Yes
Kentucky KY Saves 529 No
Louisiana Louisiana’s Student Tuition Assistance & Revenue Trust Yes
Maine NextGen 529 No
Maryland Maryland 529 Yes
Massachusetts Massachusetts 529 college savings plan Yes
Michigan Michigan Education Savings Program Yes
Minnesota MN Saves Yes
Mississippi College Savings Mississippi Yes
Missouri MOST — Missouri’s 529 Education Plan Yes
Montana Achieve Montana Yes
Nebraska NEST 529 Advisor Plan Yes
Nevada Nevada College Savings Plans Program No
New Hampshire UNIQUE College Investing Plan No
New Jersey NJBEST No
New Mexico The Education Plan Yes
New York New York’s 529 College Savings Program Yes
North Carolina College Foundation of North Carolina No
North Dakota CollegeSAVE Yes
Ohio Ohio’s 529 College Advantage Yes
Oklahoma Oklahoma 529 College Savings Plan Yes
Oregon Oregon College Savings Plan Yes
Pennsylvania PA529 Yes
Rhode Island CollegeBound Saver Yes
South Carolina FutureScholar Yes
South Dakota CollegeAccess529 No
Tennessee TNStars No
Texas Texas College Savings Plan No
Utah My529 Yes
Vermont VT529 Yes
Virginia Virginia529 Yes
Washington DreamAhead College Investment Plan No
West Virginia SMART529 Yes
Wisconsin Edvest Yes
Wyoming No plan available. N/A

Prepaid 529 plans by state

State Plan Tax Benefit for In-State Contributors?
Florida Florida Prepaid Plans No
Maryland Maryland Prepaid College Trust Yes
Massachusetts U.Plan Prepaid Tuition Program Yes
Michigan Michigan Education Trust (MET) Yes
Mississippi Mississippi Prepaid Affordable College Tuition Plan (MPACT) Yes
Nevada Nevada Prepaid Tuition Program No
Texas Texas Tuition Promise Fund No
Washington Guaranteed Education Tuition No


529 Plan Aggregate Contribution Limits

State Aggregate contribution limit
Alabama $475,000
Alaska $475,000
Arizona $519,000
Arkansas $500,000
California $529,000
Colorado $500,000
Connecticut $300,000
Delaware $350,000
Florida $418,000
Georgia $235,000
Hawaii $305,000
Idaho $500,000
Colorado $500,000
Connecticut $300,000
Delaware $350,000
Florida $418,000
Georgia $235,000
Hawaii $305,000
Idaho $500,000
Illinois $500,000
Indiana $450,000
Iowa $420,000
Kansas $450,000
Kentucky $450,000
Louisiana $500,000
Maine $520,000
Maryland $500,000
Massachusetts $500,000
Michigan $500,000
Minnesota $425,000
Mississippi $235,000
Missouri $550,000
Montana $396,000
Nebraska $500,000
Nevada Vanguard 529 College Savings Plan: $500,000
USAA 529 Education Savings Plan: $500,000
SSGA Upromise 529 Plan: $500,000
New Hampshire $553,098
New Jersey $305,000
New Mexico $500,000
New York $520,000
North Carolina $540,000
North Dakota $269,000
Ohio $517,000
Oklahoma $450,000
Oregon $400,000
Pennsylvania $511,758
Rhode Island $520,000
South Carolina $520,000
South Dakota $350,000
Tennessee $350,000
Texas $500,000
Utah $525,000
Vermont $352,800
Virginia $550,000
Washington state $500,000
Washington, D.C. $500,000
West Virginia $550,000
Wisconsin $527,000
Wyoming No 529 plan available


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