How do I start a college fund for my son?

Question

Is this something you do from a bank, or is there a certain website i can go to?

Any help would be greatly appreciated!

Thanks!

Answer 1

There are many 529 plans that are run by states or other entities that you make contributions to and as long as those are used for qualified educational expenses the earnings are not taxable. See http://www.cfnc.org/nc529/main/index.jsp as an example. The contributions to THIS one are also tax deductible for state residents on state income taxes. Do a little research to see if your state has something similar.