Successful Saving Starts With a Strategy

Build Your Strategy With Our Tools and Expert Insights

Since 2001, the T. Rowe Price College Savings Plan has been helping families save for college and other qualified education expenses. We're here to provide you with the tools and resources to build a savings strategy in a few simple steps.

Step 1: Compare College Savings Options

Figuring out which college savings option is the best fit for your family isn’t always straightforward. Should you save in a 529 college savings plan account? A traditional savings account? A taxable brokerage account? A Roth IRA? The optimal choice may depend on your circumstances, budget, and goals; however, saving in a 529 plan offers distinct advantages. Some benefits are:

  • You control the account and can change the beneficiary at any time, subject to IRS regulations.
  • There are no income restrictions, and any earnings are tax-deferred.
  • Distributions are exempt from federal income tax if used for qualified education expenses.

 

Compare Your Options

Step 2: Determine How Much to Save

Once you’ve decided which college savings option is right for you, you’ll need to figure out how much to save. Our College Savings Calculator provides customized projections and important information on how a tax-advantaged 529 plan can help. Estimate your future college expenses and create a plan to start saving.

 

T. Rowe Price Certified Financial Planners Judith Ward and Roger Young recommend the 50% rule of thumb. This rule advises that parents should aim to save enough to cover 50% of the published cost of college – which is around what most parents end up paying.

 

Start Calculating

Step 3: Choose the Right Investment Option and Open an Account

Selecting the appropriate portfolio is important. We have a variety of investment options to fit your strategic approach, whether school is fast-approaching or you’ve got years ahead.

 

You can open an account today in about 15 minutes with as little as $50 a month or a $250 initial contribution.

 

Open an Account

Step 4: Shape Your Strategy With Our Tools and Expert Insights

We are committed to helping families plan and save for future education expenses. Once you’ve opened an account, we provide a suite of tools and resources to help you evaluate, shape, and strengthen your strategy.

 

Account Holder Resources

Frequently Asked Questions

How much should I be saving?

 

Use our College Savings Calculator to help estimate how much you may need to save for your future college costs and to set monthly...

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How and where can I use my 529 savings?

 

Your account balance can be used for any purpose. However, for the distributions to be federally tax-free, you have to...

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Open a 529 Account Today

In just a few minutes, you can start saving for the future, giving your child the gift of opportunity.

Let's Get Started

Talk to a Specialist

Have questions? Our College Savings Specialists are here to help. Just give us a call at 800-369-3641.

Contact Us

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The T. Rowe Price College Savings Plan is offered by the Education Trust of Alaska. You should compare this Plan with any 529 plan offered by your home state or your beneficiary’s home state and consider, before investing, any state tax or other state benefits, such as financial aid, scholarship funds, or protection from creditors that are only available for investments in the home state’s plan. Please read and/or download the Plan Disclosure Document, which includes investment objectives, risks, fees, charges and expenses, and other information that you should read and consider carefully before investing, or call 1-866-521-1894 to request a paper copy. For other important legal information, please read the Plan's Privacy Policy. T. Rowe Price Investment Services, Inc., Distributor/Underwriter.

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