Treasurers Seal
900 SW JACKSON ST., STE 201
TOPEKA, KS 66612-1235
Lynn W. Rogers
KANSAS STATE TREASURER
PHONE: 785-296-3171
FAX: 785-296-7950

For Immediate Release:

July 14, 2021

Kansas’ Learning Quest 529 Receives 5 Cap Rating with Added Benefits and Record Growth

TOPEKA—Kansas’ Learning Quest 529 Education Savings Plans have received unprecedented ratings from SavingforCollege.com, one of the nation’s leading college-saving industry resources, as account growth hits a record-high. Along with the ratings, additional improvements have been announced concerning the management fees and contribution limits to 529 Plans.

Savingforcollege.com provides unbiased research by analyzing the performance of the nation’s 529 plans. Their ratings are based on a quarterly review of the individual college savings plans. Kansas’ Learning Quest is featured as one of the top-rated 529 plans with a resident rating of 5 caps for residents and 4.5 caps for non-residents.

“My office is focused on helping students achieve their dreams and building a strong future workforce while encouraging sound investments and affordable management plans,” said Kansas State Treasurer Lynn Rogers. “I am hopeful that young Kansans will grow up with the tools they need for a successful career, the freedom to own a home, and the ability to save for retirement right here in Kansas.”

From savingforcollege.com: A plan with a Rating of 5 Caps offers outstanding flexibility, attractive investments, and additional economic benefits (such as generous tax incentives) that can offer a substantial boost in savings for some investors. There are few, if any, weaknesses in these programs.

Additionally, Learning Quest has announced an average portfolio fee decrease of .03% for the age-based and static portfolios and a contribution limit increase to $450,000 per beneficiary.

“These changes allow Kansas families to save more for less,” said Rogers. “Since taking office, we have prioritized the marketing and improvement of the 529 plans. Our efforts have resulted in a 35% increase in new accounts over last year.”

Learning Quest 529 Savings Plans allow any U.S. citizen or resident to open an account or be a beneficiary, and there are no age or income limitations. The funds can be used for two-year, four-year, and technical school programs as well as registered apprenticeship programs. They can also be used for graduate school programs and to pay student loans.

There is no minimum to open an account. Any Kansas taxpayer—including parents, grandparents, family members, and friends—who contribute to a Kansas 529 Plan account can claim a deduction of up to $3,000 ($6,000 if married and filing jointly) in contributions, per beneficiary, per year from State of Kansas taxable income. Account owners pay no federal or state income taxes on the funds as they grow, and withdrawals used for 529-qualified education expenses are free from State of Kansas and federal income taxes on the earnings.

To learn more about these events and Learning Quest 529 Savings Plans, please visit KansasCash.KS.gov.

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