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Which college savings plan is best for your family?

  • By Fidelity Learning Center
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Putting aside the money needed to pay for future college education expenses is a major challenge for many families. To increase your odds of success, consider making regular contributions to a dedicated college fund soon after your children are born. If you already missed the opportunity to get an early start, it's not too late to establish a college saving account.

But which type of college saving account is the best fit for your family? The graphic below provides a quick snapshot of the most common vehicles for college savings, including 529 College Saving Plans, Custodial Accounts, and Coverdell Education IRAs.

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Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.

Please carefully consider the Plan's investment objectives, risks, charges and expenses before investing.  For this and other information on any 529 College Savings Plan managed by Fidelity, contact Fidelity for a free Fact Kit, or view online.  Read it carefully before you invest or send money.

The UNIQUE College Investing Plan, U.Fund College Investing Plan, Delaware College Investment Plan, and Fidelity Arizona College Savings Plan are offered by the State of New Hampshire, MEFA, the State of Delaware and the Arizona Commission for Postsecondary Education, respectively, and managed by Fidelity Investments.

The UNIQUE College Investing Plan is offered by the State of New Hampshire and managed by Fidelity Investments.  If you or the designated beneficiary are not a New Hampshire resident, you may want to consider, before investing, whether your state or the designated beneficiary's home state offers its residents a plan with alternate state tax advantages or other benefits.

Units of the portfolios are municipal securities and may be subject to market volatility and fluctuation.

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Related Lessons

Get Started With College Savings

  • Saving for college

    Get the information you need to plan for your child’s educational future. Compare your options, see how much you’ll need to save, and find an account that meets your needs.

  • 529 College Savings Plans

    529 plans are flexible, tax-advantaged accounts designed specifically for college savings. Invest in any state’s plan, and use the funds at most accredited schools nationwide.