College Savings Exemption

An exemption under North Carolina law providing limited protection for section 529 qualified educational savings accounts.

Blog Posts

We have discussed College Savings Exemption in the following posts on our bankruptcy blog:

Protecting College Savings in Bankruptcy

Nov 30, 2011

Tax-advantaged college savings plans are a relatively new financial tool, but are used by many families across North Carolina to save for the expense of a college education. If contributions have been made consistently, a 529 plan may have grown to be a substantial asset. For individuals who have come into troubled financial times, the effect bankruptcy may have on these savings can be concerning. Outside of bankruptcy, a desirable feature of a 529 plan is that the contributing parent remains in control of the deposited funds.

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