Who Can Invest

Almost everyone can open an account. The beneficiary can be a child, grandchild, friend, spouse – even yourself!

Questions? Talk with a plan representative between 9 a.m. and 5:30 p.m. eastern time, Monday through Friday, at 800.987.4859 (for DC residents) or 800.368.2745 (for non-DC residents).

Tax Benefits

To encourage saving, the DC College Savings Plan offers substantial tax benefits:

  • Earnings are free from federal and DC income taxes while your funds remain in the account.
  • Money withdrawn from the account stays free of federal and DC income taxes as long as you use it to pay qualified higher education expenses such as tuition, room, and board.
  • DC taxpayers may deduct up to $4,000 in Plan contributions from their DC income tax return ($8,000 for married couples filing jointly).
  • Money in a Plan account is generally exempt from estate tax, and you may contribute up to $14,000 per year free of gift taxes.

Flexibility and Control

We're flexible. The DC College Saving Plans offers three different types of investments: age-based portfolios, single fund investments, and the stability of principal option. And you can make contributions to your account by check, automatic deposit from your bank, or—with a participating employer—payroll deduction.

You're in control. As the account owner, you control the Plan assets, ensuring that the money you set aside is used as you intended. The beneficiary cannot withdraw the money when he or she reaches legal age, and spend it on something other than college.

Invite Us to Speak at Your Event

Planning a college fair or PTA meeting? We'd be glad to speak to your community group about saving for college with the DC College Savings Plan or provide brochures for your attendees.

 

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For more information on the DC College Savings Plan, please call 800.987.4859 (800.368.2745 for non-District residents) or contact your financial advisor.  An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing.

The District of Columbia College Savings Trust Program Disclosure Booklet contains this and other information. Read it carefully before you invest or send money.

An investor should also consider, before investing, whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available to residents of that state. An investment in another state’s 529 college savings plan may not offer comparable benefits.

The Government of the District of Columbia does not guarantee investments in the program. Investment involves risk, including possible loss of principal.