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Wisconsin College Savings 529 Plan

Tomorrow's Scholar is a state-sponsored 529 college savings plan administered by the State of Wisconsin.  Some key features of the Tomorrow's Scholar College Savings Plan are:

*Any growth or earnings in your account is federally tax free if used for education.

*Withdrawals for qualified education expense are also free from federal tax.

*Reduce from Wisconsin taxation income up to $3,340 (2019 Year) of annual contributions for each child's(beneficiary) account (adjusted annually for inflation).

*The reduction is available to anyone who makes contributions during the tax year, regardless of whether they are the account owner or their relationship to the beneficiary.

*Contributions may be made for the current tax year up to April 15th of the following year.

*Contributions that exceed the maximum reduction amount for a tax year may be carried forward to reduce future taxation income

*Account balance is excluded from calculation of state funded financial aid awards.

*529 accounts are protected from claims by creditors.

 

Click here to calculate the savings you'll need for college.