§529 plans are limited to a yearly contribution of $2,000 for each beneficiary and can only be used to pay for qualified educational costs incurred from kindergarten through 12^th grade.

Question

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The yearly contribution limit for §529 plans varies by state and can exceed $2,000 per beneficiary. Additionally, qualified educational expenses can include college and graduate school, not just K-12 expenses.

§529 Plans Are Limited to a Yearly Contribution of $2,000