CollegeBound Saver (529 Plan)

CollegeBound Saver is a tax-advantaged savings plan that allows Rhode Islanders to save for college affordably and conveniently. Savings can be used at accredited colleges, universities, trade, and vocational schools worldwide, as well as for registered apprenticeship programs. Research indicates that children with college savings, even less than $500, are three times more likely to attend college and four times more likely to graduate. 

Benefits of opening a CollegeBound Saver account include:

  • Assets grow tax-deferred and withdrawals for qualified higher education expenses stay tax-free.
  • Savings can be used to pay for qualified expenses at any accredited higher education institution in the U.S. or abroad.
  • There is no minimum investment required.
  • Rhode Island taxpayers may receive a tax deduction of up to $1,000. (Please consult a tax advisor for information on your specific situation.)
  • You can change the beneficiary of your account at any time to a member of the former beneficiary’s family.

To learn more about CollegeBound Saver please visit or call 877-517-4829.