Ohio lawmakers hope to reduce record student loan debt with a sweeter tax deal to entice families to save for higher education.
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Use an online calculator to see how much a 529 account can grow based on how much you want to contribute at MyDaytonDailyNews.com
Ohio’s CollegeAdvantage 529 savings plan
- Open an account with as little as $25
- Use the money at almost any accredited college in the country
- Don’t pay state or federal taxes on earnings used for college
- Get a deduction on your taxable income
- Or get a gift tax exclusion when grandparents contribute
- Anyone — a grandparent or friend — can contribute to the account
- Account can be transferred to another person if beneficiary decides not to go to college