Students

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There are many ways SMART529 can help you reach your college dreams.

It’s never too late to set yourself up for a successful future. Whether you are a high school student searching for the perfect school for your field of study, a professional looking for continuing education credits, unemployed and looking to make a career change or even returning to the classroom to earn your graduate degree a SMART529 account can help.

 

SMART529 Benefits

  • There’s no minimum investment for West Virginia residents.
  • Even if you receive a tuition scholarship, SMART529 savings can be used to cover other qualified expenses such as books, fees or required equipment.
  • For West Virginia Personal Income Tax purposes, your Federal Adjusted Gross Income may be reduced by the amounts contributed to the program each year (subject to recapture if non-qualified withdrawals are made).
  • Earnings in your SMART529 account can accumulate tax deferred.1
  • Withdrawals for qualified higher education expenses are free from Federal and West Virginia income taxes.2

 

1Lifetime maximum savings $400,000 per child

2Non-qualified withdrawals are taxable as ordinary income to the extent of earnings and may also be subject to a 10% federal income tax penalty. Such withdrawals may have state income tax implications.

 

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