For Virginians

The official 529 plan for Virginia residents

Virginia529 is now Invest529, but Virginia residents still enjoy the same great investments options and Virginia state income tax deduction. With Invest529, it’s easy and convenient to save for future education expenses while also saving on your taxes.

Top reasons for Virginians to save with Invest529

State tax advantages

Virginia taxpayers may deduct contributions up to $4,000 per account per year (including Invest529, Prepaid529 and CollegeAmerica). You can maximize your tax deduction by opening multiple accounts - each new portfolio selected is a new account.

Unique investment options

Virginia residents can save with the Tuition Track Portfolio. This one-of-a-kind alternative to the closed Prepaid529 program allows your funds to grow at the same rate as Average Tuition at Virginia public colleges and universities.

Use at schools worldwide

Funds don’t have to be used at Virginia schools. Your Invest529 account can be used at any eligible school in the U.S., or even the world. This includes graduate schools, community college, technical/vocational schools, K-12 expenses, or even study abroad programs.

Perks across the state

For even more reasons to save with the best 529 plan around, Invest529 rewards Smart Savers with fun discounts and perks at events across the Commonwealth.

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Invest529 makes it very easy to save money for school. Every time I get paid, money gets directly transferred into my children's accounts. It's simple, easy and convenient. Plus, I don't have to remember to do it.

- Shaquille C.

Virginia savers FAQs

: No. All Invest529 accounts, including Prepaid529, can be used at any eligible educational institution around the country or the world, public or private! Remember, Prepaid529 contract benefits differ depending on how and where they are used. Please see the applicable Program Description for more information.
: Yes. Virginia taxpayers can direct all or part of a Virginia income tax refund directly into one or more accounts. Use Schedule VAC, available from the Virginia Department of Taxation, to direct a contribution.
: The account is always yours. But be aware that each state has different tax advantages and rules may differ
in its treatment of income from a 529 plan. It’s important to check with your new state or consult a tax advisor
regarding specific tax consequences when taking withdrawals.

For Tuition Track portfolio accounts, you can continue to purchase units and use the account toward any
eligible school.

For Prepaid accounts, you can continue to make payments. However, if your student also moved to another
state, they are no longer eligible for in-state tuition at a Virginia public school, and the difference between the
in-state and non-Virginia resident rates will not be paid.
: Generally, you’ll need your quarterly statements, which show your contribution history. Quarterly statements are emailed or mailed to you quarterly (depending on your preference). You can also access your statements any time through your online account.