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MOAA college savings plan.

THE Military Officers Association of America will offer the Vanguard 529 College Savings Plan to officers and enlisted military personnel, to provide them with a low-cost way to save for a child's college education.

The Vanguard 529 Plan is one of the lowest-cost 529 savings plans currently available.

The initial minimum investment is only $50 when establishing an automatic investment plan and applying online through MOAAS's Web site

If the automatic investment plan is not chosen, the minimum investment is $3,000.

Investments in the Vanguard 529 Plan can be used to pay for an education at state and private colleges, universities and other educational institutions.

Withdrawals from the plan are free from federal income taxes when used for qualified higher-education expenses. Certain states also allow for contributions to the Vanguard 529 to be deducted from state income taxes. MOAA members in Nevada, Pennsylvania, Maine and Kansas can take advantage of this additional benefit.

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Title Annotation:Military Officers Association of America; Vanguard 529 College Savings Plan
Author:Wagner, Don
Publication:Soldiers Magazine
Article Type:Brief article
Geographic Code:1USA
Date:Mar 1, 2007
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