How Can I Open a 529 Plan?

529 plans can be opened directly with a state. Alternatively, many brokers and
financial advisors offer 529 plans. They can help you choose from a selection
of plans located around the country.

How Much Does a 529 Plan Cost?

States often charge a one-time account setup fee for a 529 plan. These have
ranged from as little as $25 (in Florida) to $964 (in West Virginia) for the
lowest-cost option.8 In addition, if you bought your 529 plan through a broker
or advisor, they may charge you as much as 5% or more on the assets under
management.9 The individual investments and funds that you have inside of
your 529 may also charge ongoing fees. Look for low-cost mutual funds and
ETFs to keep management fees low.