CollegeBound Saver (Direct-Sold)

The CollegeBound Saver Direct-Sold is a 529 plan available in Rhode Island that offers families a convenient and direct way to save for higher education expenses. One unique aspect of this plan is its direct-sold structure, allowing individuals to open and manage their accounts directly without the need for a financial advisor. The plan offers a range of investment options, including age-based portfolios and individual fund options, providing flexibility for account holders to customize their investment strategy. It offers tax advantages, such as tax-free growth and tax-free withdrawals for qualified education expenses. Additionally, Rhode Island residents may be eligible for a state income tax deduction for contributions made to the plan, further enhancing the savings potential. The CollegeBound Saver Direct-Sold plan is designed to help families save efficiently and effectively for their educational goals.