Switch to the Minnesota College Savings Plan (MCSP), Minnesota's official direct-sold 529 college savings plan, and give your savings a boost.
With the sixth-lowest fees among 529 plans in the nation, MCSP** is a simple and affordable way for families to save for higher education costs. Plus, MCSP offers state tax benefits just for Minnesota residents:
- Annual tax deduction of up to $3,000 or a $500 tax credit on new contributions to the plan (rollover contributions cannot be claimed). See details.
- Any potential earnings grow free from Minnesota and federal taxes
Rollover your current 529 college savings account to MCSP before September 1, 2019, and you could get up to $500 (see chart below). Just use this form to get started.
**Strategic Insight, First Quarter 2019 529 College Savings Quarterly Fee Analysis