#MYTH

I need to save for the full cost of my child's education.

#TRUTH

Saving even a small amount every month can make a big difference and help you cover expenses such as computers, housing, and books, and bridge the gap between tuition costs and financial aid.

#TRUTH

U‑Nest takes care of everything for you. All you have to do is set up the account and determine the amount you want to contribute monthly. We will choose the best plan based on the age of your child and your time horizon.

#MYTH

I will have to make a lot of investment decisions.

#MYTH

Withdrawals for non-education expenses are subject to a 10% tax.

#TRUTH

This is only true for the investment earnings portion of your account. The amount of your original contributions is not affected by this rule.

#TRUTH

Every state’s 529 Plan permits your account to be used at eligible schools, colleges, and universities anywhere in the United States and abroad.

#MYTH

A 529 Plan can only be used at schools in my home state.

#MYTH

It’s too late to start a college savings plan.

#TRUTH

Even if your child is in high school, you can still take advantage of the tax benefits of a 529 Plan. For example, you can keep saving while your child attends his or her first years of university to take advantage of the tax benefits.

#TRUTH

The plan with the best benefits is not necessarily the 529 plan of your home state. When evaluating your options, you need to consider various factors such as low fees, track record of returns, and availability of investment options.

#MYTH

I already set up a 529 account in my state. So I guess I’m all set.