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Use your plan ID (available on your account statement) to determine which employer-sponsored retirement plan website to use:





Growing family, stretching budget

Another child is a lot of work, a lot of fun and perhaps a bit more worry. Wondering how you'll save enough to put all your children through college? You can plan for their future without breaking your budget. Start small, start now and you can make it happen.

  • Take a good look at your budget to make room for the expense of another child.

  • Check if your employer offers a flexible spending account that you can use for dependent care costs.

  • Kick in a little extra each month, or divide your existing contribution.

Having another? You're going to need another 529 savings plan.

Each of your children is unique, with individual hopes and future plans. One way to acknowledge that individuality is by giving each of them an education savings plan that's right for his or her own situation. Find out how to keep all your children on track to a bright future.

  • Multiple education savings accounts are better for families with more than one child.

  • Give them a sense of ownership and confidence.

  • Shop around for the best plan for your growing family.

Teaching children to save for their education

Even young children can help save for their own education, and the important financial lessons they learn now can carry them far beyond their college years. While the destination of college is the goal, the journey itself can be valuable.

  • Talk with your child about how you make financial decisions and the value of working toward goals.

  • Explore meaningful ways to get your young child interested in saving for her own education.

  • Encourage new responsibility for earning, managing and understanding money as she gets older.

Savings calculator

Don’t let the need to be perfect stop progress. Even if you can only save $50 a month right now, you’ll still be ahead of the game.

If I save       a month


Birth18 years old

Estimated savings when my child is 18 years old:


That's about 0% what you'll need for four years of in-state tuition fees.

* Assumes a hypothetical annual growth rate of 6%. For illustrative purposes. Not intended to portray an actual investment.

Ready to create a detailed plan?

Go to the college calculator
Savings if you started today
$ 0
Savings if you started after 0 years
Go to the college calculator

Give it a boost!

save taxes iconYearly bonus? Tax refund? Put part — or all — of it into your 529 education savings plan.

on track iconAsk for gifts toward your child’s 529 savings plan on birthdays and holidays.

on track iconHave your child join in the effort.
Lemonade stands and part-time jobs can help grow the funds, too.

It’s better to start somewhere and start now. Small savings can make a big difference over time.

CollegeAmerica 529 savings plan basics

Saving for education is like planning a big trip — getting to your destination takes a good plan. A 529 savings plan is a popular way to save for college.

A CollegeAmerica 529 savings plan makes it easy.

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Use a 529 savings plan for more than college tuition, including housing, required books and computer equipment.

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Save on taxes

The earnings from your 529 savings plan investments are exempt from federal taxes, and in many cases, there is a state tax benefit as well. Tax-advantaged treatment applies to savings used for qualified education expenses. State tax treatment varies.

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A 529 savings plan can be transferred to cover the educational expenses for a family member of the original beneficiary.

Have more questions?

Wondering how to save for your child’s education? Get answers about opening an account, making contributions and withdrawals, updating your beneficiaries and more.

Can I change the 529 savings plan beneficiary?

You can change the beneficiary anytime. To avoid possible penalties, make sure that the new beneficiary is a family member of the previous beneficiary. A member of the family generally includes the beneficiary’s children and grandchildren, the beneficiary's brothers, sisters, parents, uncles, aunts, in-laws, spouses — even a first cousin!

Can I contribute to both a 529 savings plan and a Coverdell Education Savings Account?

Sure. Keep in mind that there are separate limits for both accounts. A Coverdell’s annual contribution limit is only $2,000 per year, per student. There's no annual limit on contributions to a 529 savings plan. However each state's plan has a limit on the total account value. You can contribute up to $16,000 ($32,000 for married couples) annually without gift tax consequences. Under a special election, you can contribute up to $80,000 ($160,000 for a married couple) at one time, accelerating five years worth of contributions.

How can I roll over assets from one 529 savings plan to another?

If you want to transfer 529 savings plan assets into CollegeAmerica, a financial professional can assist you.


CollegeAmerica 529 savings plan

You trust your doctor with your health and your mechanic with your car. You shouldn’t settle for anything less when you’re deciding where to invest your money.

Trusted by more than 1 million families nationwide, CollegeAmerica is the country’s largest 529 savings plan*, with more than $92.7 billion invested.

why us background image

We're helping more than 2.5 million investors support future students in pursuing their dreams.

  • Any adult who's a U.S. citizen or legal resident can open a CollegeAmerica 529 savings plan, regardless of income.
  • The earnings in a 529 savings plan are exempt from federal taxes if withdrawals are used for qualified expenses. And some states offer tax benefits as well.
  • CollegeAmerica fees are among the lowest in the industry.**
  • If withdrawals are used for purposes other than qualified education expenses, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax. States take different approaches to the income tax treatment of withdrawals. For example, withdrawals for K-12 expenses may not be exempt from state tax in certain states. State tax treatment varies.

* Largest by assets, according to the 4Q 2021 College Savings Quarterly Data Update from ISS Market Intelligence.

† As of December 31, 2021, CollegeAmerica AUM is $92.7B.

‡ Number of accounts as of December 31, 2021.

** 529 College Savings Quarterly Fee Analysis, ISS Market Intelligence, Fourth Quarter 2021. CollegeAmerica's fees were in the top quartile of 31 national advisor-sold 529 plans and the top quartile of 26 national fee-based, advisor-sold 529 plans based on the average annual asset-based fees.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing. Similar information is contained in the CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by American Funds Distributors, Inc. and sold through unaffiliated intermediaries.

Depending on your state of residence, there may be an in-state plan that provides state tax and other state benefits, such as financial aid, scholarship funds and protection from creditors, not available through CollegeAmerica. Before investing in any state's 529 plan, investors should consult a tax advisor. CollegeAmerica is a nationwide plan sponsored by Virginia529. 

This material does not constitute legal or tax advice. Investors should consult with their legal or tax advisors.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Use of this website is intended for U.S. residents only.

American Funds Distributors, Inc., member FINRA.

This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.