529 College Savings Plan

Money in this plan can be used for qualified undergraduate or graduate expenses (such as tuition, fees and books) at any eligible, accredited college, university or trade school in the U.S.

You can contribute up to $402,000 per beneficiary (the limit includes earnings) to the plan through after-tax deductions from your pay. To invest your contributions, you can choose from a range of investment portfolios. When you withdraw the contributions and earnings for qualified expenses, you won’t pay any federal taxes. (Depending on where you live, state taxes may apply.) For more information, see the  Schwab 529 Guide (PDF) and the Resource Library.