College savings: What professionals need to know

A college savings solution offering tax advantages and a wide range of investment portfolios for more than 25 years.

Key facts

A direct-sold plan well suited to the priorities of financial professionals: Low expenses, a disciplined investment approach as well as support and services tailored to the needs of advisors.
Maximum Kansas taxpayer benefits: Tax-free growth and distributions when used for qualified higher-education expenses. Individuals who file a Kansas state income tax return are eligible to deduct contributions they made to a Quest529 Education Savings Plan: up to $3,000 (individual filer) and $6,000 (joint filers) apply per tax year per beneficiary. If the funds aren't used for qualified higher education expenses, a federal 10% penalty tax on earnings (as well as federal and state income taxes) may apply.¹
Flexible use options that benefit the changing needs and priorities of clients: Approved for a wide range of expenses and educational experiences at schools nationwide and many schools abroad. Account owners can change their beneficiary to another eligible beneficiary or simply withdraw assets for any reason (federal and state taxes and penalties may apply if not used for qualified education expenses).

Funds can be used to pay for a variety of eligible education expenses, including public or private colleges, universities, community colleges, professional and career technical programs, certain apprenticeship expenses or postgraduate programs in the United States and many schools abroad.²
Pay for qualified expenses when enrolled in a recognized postsecondary credentialing program.²
Unused funds never expire and can be used at a later time, or they can be transferred to an eligible family member or a Roth IRA (subject to rollover rules and limits).³

A disciplined set of investment portfolios: A full suite of self-adjusting Enrollment Year Portfolios that utilize a progressive glide path, creating a gradual shift in asset allocation. In addition, Quest529 offers Multi-Fund Portfolios and Individual Fund Portfolios, allowing for more control over asset allocations. Investment Portfolios are managed by a dedicated 529 investment team and use funds from leading asset managers.
Estate tax and legacy planning benefits:

Estate tax exempt. Kiddie tax exempt. Generation skipping tax exemption eligible.
Able to seed account with large upfront contribution—a lump sum gift of $95,000 if you're a single filer or $190,000 if you're married and prorate the gift over five years per the federal gift tax exclusion as of 2026.
No limit on the number of accounts/beneficiaries.
Account owner maintains control over assets.

Simplified account management: Access client data easily and quickly with Ascensus QuickView^®.
Planning tools and sharable resources: For example, use our College Savings Calculator to explore funding scenarios considering age, contribution levels and school choice as well as your assumptions for return on investment and cost inflation.

Include college savings as part of your periodic goal discussions.
Encourage your clients to have dedicated college savings accounts as this may reduce the temptation to use retirement assets for college savings.
Make sure college savings are invested in vehicles with appropriate risk-reward profiles and that your clients take advantage of available tax benefits.
Use our Enrollment Year Portfolios on their own or fine-tune their risk/global exposure by mixing with an allocation of our Multi-Fund Portfolios and Individual Fund Portfolios.

800-579-2203

Monday – Friday
8:00 AM – 7:00 PM CT

For those with a hearing impairment, please contact us at the number above via a relay service. Translation services available upon request.

For access, password reset and computer-related issues, call the dedicated 529 QuickView Help Desk

Monday – Friday
7:00 AM – 5:00 PM CT

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