Learning Quest 529 Plan
Schwab no longer offers the Learning Quest® 529 Education Savings Program to new investors. However, we will continue to support existing Learning Quest accounts. Learning Quest clients can continue to make contributions, change investment portfolio selections (twice per calendar year as authorized by the IRS), take withdrawals, and change beneficiaries—as well as perform other account maintenance. Forms are available at schwab.com/forms by selecting the "Topics" Tab and then the "College and Custodial Accounts" option.
If you need assistance managing your Learning Quest account please call 888-903-3863.
Learning Quest® 529 Education Savings Program features:
- Tax-deferred earnings on your investments.
- Tax-free withdrawals when the money is used for qualified education expenses.
- No gift tax incurred for contributions up to $75,000 ($150,000 per couple) for each beneficiary in a single year.1
- State tax benefits for Kansas taxpayers, who may receive a maximum $3,000 ($6,000 per couple) annual state adjusted gross income deduction for contributions made to the program, per beneficiary.
- Contributions up to $418,000 per beneficiary.2 Contributions may be made to a 529 plan and an education savings account for the same beneficiary in the same year.
Minimum Contribution: $0
Contribution deadline3: December 31
Number of portfolios available
Age-Based Tracks: The age-based tracks are based on risk tolerance: aggressive, moderate, or conservative.
Static portfolios: Seven diversified portfolios based on risk tolerance, and 2 single focus portfolios, the "100% Equity Portfolio" and the "Cash and Cash Equivalents Portfolio".
American Century Investments and Vanguard funds
- Account is owned by the contributor
- Account owner selects investment portfolio when initial contribution is made
- Account owner may change the investment portfolio selection twice per calendar year as authorized by the IRS.
- Account owner is entitled to select or change designated beneficiary (to a member of the student's family) or even take funds back (may be subject to penalty) if that beneficiary elects not to attend college or receives a scholarship
Annual account maintenance fees
Account maintenance fees: $0 fee
Fund Management Expenses
Portfolio fee: 0.09% - 0.81%
For more information about the underlying fund and program management expenses, please review the Learning Quest Guide and Participation Agreement.