Take advantage of the Virginia529 CollegeAmerica savings plan
Novant Health UVA Health System Culpeper Medical Center offers a Virginia529 CollegeAmerica® savings plan that allows team members to save for higher education expenses through a tax-advantaged account invested in American Funds. Higher education includes, but is not limited to, community colleges, undergraduate and graduate schools and technical schools.
Benefits of a Virginia529 Plan include:
- Anyone can open a 529 savings plan.
- You can create 529 accounts for more than one individual, i.e., multiple children, grandchildren and others.
- Your initial investment can be as little as $25 per fund.
- Contributions to the account can be made through payroll deduction.
- Withdrawals for qualified expenses, i.e., tuition, text books, required equipment and supplies are free from federal taxes and in most cases, state taxes.
- Account owner always controls the account and timing and amount of withdrawals.
- You can use your 529 to pay for qualified education expenses at eligible educational institutions in any state.
If you are interested in learning more about our Virginia529 CollegeAmerica® savings plan, please make an appointment with financial adviser Steve Singer by calling 540-829-5010.