Spring into triple tax benefits

including up to $3,000 in state tax deductions for joint filers.

Triple Tax Benefits of a MNSAVES 529 Account

See your contributions go further with MNSAVES 529 Plan tax benefits

State Tax Deduction

MN taxpayers may qualify for a state tax deduction up to $3,000 if married filing jointly, ($1,500 and filing single) for contributions made into an MNSAVES account.

100% Tax-Deferred Growth

Any earnings can grow tax-deferred. When you pay less taxes, you may have the ability to earn more and grow your college savings account faster—giving your beneficiary an even bigger head start!

Tax-Free Withdrawals for Qualified Expenses

Withdraw tax-free for all qualified education expenses at any eligible college, university or technical college for tuition, certain room and board, books, computers and more.

Why a MNSAVES 529 Plan?

Your plan is financial aid friendly

Your 529 account is typically viewed as a parental asset for financial aid purposes and may count less against aid eligibility than the same funds held in your child's name.1

Your child gets more opportunities

For MN taxpayers savings can be applied to any accredited college or university across the country and abroad, as well as technical or community college.

You have more control

You're never locked in and can withdraw your funds for any reason at any time.2

You enjoy more flexibility

Funds in your child's account are transferable to another eligible family member, which includes siblings, stepchildren, parents and even first cousins.

Ready to start their college savings?

The sooner you start, the more they may have for college.

Open an Account