Saving for Kids College

We recently moved from Kansas to Dallas. In Kansas we participated in college fund for our 3 year old son that gave us tax benefit (529 fund). I have heard that in Texas we would not be able to get tax benefit for the amount we invest in that account. I would like to know if there are similar programs in Texas that we can take advantage of to save for your kids' education.

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K. answers from Dallas on July 11, 2006

You may check into the Texas Tomorrow Fund.

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K. answers from Dallas on July 11, 2006

Look into the the Texas Tomorrow Fund. It is a great way to save for your kids college education and is very flexible.

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H. answers from Dallas on July 10, 2006

You might try setting up different 529 accounts. Or you might set up trust accounts, or purchase bonds.

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W.F. answers from Dallas on July 10, 2006

Hi Dee. You can continue contributing to the same plan you used in Kansas, but you're right. You won't get the tax benefits as Texas doesn't have a state income tax. You can however contribute to any state's plan. Texas has their own, but after our research, we found it wasn't that great. They used to have a pre-pay plan but that is currently closed I believe. Good luck!!

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