College Savings Plan
The DC College Savings Plan is a Section 529 plan created to help families prepare for the substantial cost of higher education. The plan is sponsored by the District of Columbia Government sponsors and managed by Calvert Investments. The plan offers special tax advantages that enable participants to maximize their savings potential.
The DC College Savings Plan is:
- Convenient. Contribute by check, automatic deposit, or payroll deduction.
- Affordable. Open an account with as little as $25 per month (through automatic deposit).
- Tax-advantaged. You won't pay federal income tax on the money you save in the Plan or on withdrawals for qualified expenses like tuition or room and board. And DC residents get special tax benefits; they can deduct up to $4,000 per year in Plan contributions.
- Socially responsible. The DC College Savings Plan is the only 529 plan in the country to offer a full range of sustainable and responsible investments (SRI), so you can invest in companies that are committed to corporate social responsibility.
Choose an investment option that's right for you:
The DC College Savings Plan offers three types of investments:
- Age-based portfolios
- Single fund investments
- Stability of principal investment
See the DC College Saving Plan website for more information.
Savings Bond Program
Any full or part-time salaried employee may purchase US Savings Bonds through payroll deduction. See Treasury Direct for more information.