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Minnesota 529 plans
Minnesota residents receive numerous state plan benefits.
Learn about state tax benefits ↓Minnesota residents receive numerous state plan benefits.
Learn about state tax benefits ↓Featured 529 plans for Minnesota residents:
State tax deduction or credit
Minnesota taxpayers may claim either a tax deduction or a tax credit depending on their income. A $1,500 tax deduction ($3,000 for a married couple filing jointly) can be claimed against Minnesota income tax.
Minnesota is a tax parity state, enabling tax benefits for contributions to non-state 529 plans. See the best 529 plans →
Which 529 plans does Minnesota offer?
TIAA-CREF Tuition Financing, Inc. manages Minnesota’s 529 college savings plan, which offers an enrollment-year based option along with 10 static investment options.
To read more about the Minnesota College Savings Plan, select the link below.
Direct sold 529 plans
"Do-it-yourself" type plans in which the saver enrolls and sets up the initial investment. Fortunately most 529 plans make this simple! You'll pay no sales charges beyond fund and administrative fees.
Our rating
4 / 5
Special award
ABLE Plans
529 ABLE accounts let Americans with disabilities save tax-deferred for education and other expenses without impacting eligibility for public benefits.
ABLE Plan
The Minnesota ABLE Plan is offered through the National ABLE Alliance. The plan was established under the state's ABLE legislation to encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality of life, and to provide secure funding for disability-related expenses on behalf of designated beneficiaries with disabilities that will supplement, but not supplant, benefits provided through private insurance, the Medicaid program under title XIX of the Social Security Act, the Supplemental Security Income program under title XVI of the Social Security Act, the beneficiary's employment, and other sources.
A good place to start:
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Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.
