Delaware Provides Information And Tools To Assist Families Prepare For College

Thanks Jack.

Delaware State Treasurer and Chair of the Delaware College Investment Plan, Jack Markell today announced the launch of a new website geared at assisting families as they prepare for college.

The site contains information on topics ranging from Getting Started, to a College Planner & Calculator, to a News You Can Use section filled with recent news pertaining to college savings, as well as a downloadable College Savings Kit.

The website also contains detailed information about the 529 Delaware College Investment plan. 529 savings plans are named for a section of the federal tax code that allows parents, grandparents and others to set up investment accounts for college expenses. The investments grow free of federal tax when the funds are used to pay for tuition, fees, room, board, books and supplies. The funds can be used at any accredited college or university, not just schools in the state that sponsors the plan. Because Delaware follows federal tax regulations, withdrawals from the Delaware College Investment Plan are completely tax-free for residents.

The 529 Delaware College Investment Plan, administered by Fidelity Investments, provides professionally managed investments, high contribution limits, no income restrictions, and the ability for parents, guardians or grandparents to maintain control of an account specifically dedicated for college or accredited trade school expenses. The plan offers unlimited, complimentary planning and guidance services to participating families.

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