Savings

Virginia ABLEnow
Achieving a Better Life Experience Act

  • Managed by Virginia529 Savings Plan
  • A new savings program for eligible individuals with disabilities and their families.
  • Qualified savings accounts that receive preferred federal tax treatment
  • Enable eligible individuals to save for disability related expenses
  • Max contribution: $500,000
  • Individual max contribution: $2,000 per year

 

Virginia 529
A savings plan that helps families save for future higher education expenses.

  • Money can grow free from federal taxes and be used to fund qualified higher education expenses at eligible educational institutions nationwide.
  • Virginia taxpayers enjoy the additional benefit of a state income tax deduction on contributions
  • Max contribution: $500,000
  • Individual max contribution: $2,000 per year
  • You can open an account with as little as $25