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529 College Savings Plan

A smarter way to save for school

It's never too early to get a head start on your child's future. A tax-deferred 529 college savings plan helps you pay for things like tuition and housing when the time comes — and it may only take $15 to start. You can also use these funds for K-12 private schooling.

Explore the key benefits of 529 plans or contact an Allstate financial professional to learn more.

  • Offers tax breaks
    In most states, you don't pay taxes on the interest you earn, and the money is tax free when withdrawn

  • Covers the things you need
    Pays for tuition, room and board, mandatory fees, books and supplies

  • Gives you education options
    Can be used at most colleges, universities or technical schools, in addition to K-12 private schooling

  • Allows for flexible contributions
    Can vary as long as they're within the minimum and maximum contribution amount — contributions can also be made by grandparents or friends

  • Provides investment options
    Typically, you can invest in options like stock, mutual and bond funds

  • Doesn't expire
    Change your beneficiary when you need — if the first child doesn't use it all, you could put the rest towards the second child

How do 529 plans work?

From just starting to make contributions to cashing in on all your savings, here's a look at how a 529 college savings plan works.

A family sits at a table with their agent going through papers.

1. Start your plan
You're not limited to your home state's plan, so we can help you choose one that works for you

A young woman sits at a desk looking at papers and writing notes.

2. Grow your savings
Contribute to your account and choose how you want to invest your money. We can help you stay on track

A young woman kisses her mom on the cheek as she heads off to school.

3. Use the funds
When the time comes and your child is ready for college, you'll withdraw your tax-free savings

A man shakes his agent’s hand.

Helping you build a brighter future.

At Allstate, you'll work with a local financial professional who will be there every step of the way.

Contact a financial professional

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