Tax advantages can make your dollars work harder.
Did you know that Arkansas taxpayers are eligible to deduct up to $5,000 (up to $10,000 for married couples making a proper election) from their adjusted gross income calculation for contributions to an Arkansas Brighter Future 529 Plan account ?1
Learn about other Arkansas state income tax advantages to help you save more for education:
- Arkansas Taxpayer Deduction
- Qualified Tax-Free Withdrawals
- Gift-Tax Advantages
- Estate Planning Benefits
- Carry Forward Advantages
- Additional Taxpayer Advantages
- Rollover Contribution Benefits
- Arkansas Business Advantages
Your account offers powerful tools that boost your savings.
The Arkansas Brighter Future 529 Plan is designed to help families reach their educational goals. With the touch of a button, these free tools can make it even easier to save more.
Invite friends and family to be a part of your savings journey. With a Ugift® code that links directly to your account, they can give the gift of education for a birthday, holiday, special occasion, or even “just because.” Anyone who contributes may be eligible for an Arkansas state tax deduction, too.Learn More
Upromise® is a free service that allows members to earn cash back rewards for everyday activities such as shopping, dining, and more. Once you reach $50, your rewards can be sent right into your Arkansas Brighter Future 529 Plan account.2Learn more
Set goals, stay on track, and get to where you want to be.
Your Arkansas Brighter Future 529 Plan features powerful information. Make one-time contributions or set up recurring contributions to stay on track toward your goals.
Your savings is never more than a click away.
Contribute anytime; quickly and securely withdraw your savings whenever you are ready.3 It’s your money and you will always have access to it.
It’s Your Money
Funds in your account will always remain “your money.” Unlike other savings options, there is no deadline to use your savings. If you don’t need them immediately, you can keep your savings in your account until you have a use for them, with no penalty. Not a bad thing if your child wants to continue on to graduate school.
Feel secure knowing that you have flexibility with an Arkansas Brighter Future 529 Plan account. You can request a withdrawal at any time and have your money within ten business days. Your savings can be used at a variety of educational institutions, both at home and abroad.4
Your 529 account is flexible, so you don’t have to worry if plans change.
What if your child decides not to go to college? Or takes a gap year? Or gets a scholarship to their dream school? No problem. Your Arkansas Brighter Future 529 Plan account has more flexibility than you may realize. Your education savings covers a lot more than tuition at a variety of education institutions.
Use your savings when and where you want.
Unlike other savings options, there is no deadline to use a 529. Let your savings grow until you’re ready to begin using the funds, and breathe easier knowing that your 529 savings can be used at a variety of eligible institutions including colleges & universities, graduate programs, vocational and trade schools, or any apprenticeship that is registered and certified with the Secretary of Labor.
Use your savings for more than just tuition.
529 savings can be used for a variety of qualified education expenses, including tuition, room & board, books, fees, computers and more. However, if you need your 529 savings for something other than education, you may take a non-qualified withdrawal, subject to 10% federal penalty tax, as well as state and local income taxes.3
Ugift is a registered service mark
1 Arkansas taxpayers can deduct up to $5,000 (up to $10,000 for married couples) of your Arkansas 529 GIFT Plan contributions from your Arkansas adjusted gross income with any unused excess contribution in a tax year being carried over to the next succeeding four tax years, beginning January 1, 2017.
2 Upromise is an optional program offered by Upromise, Inc., is separate from the Arkansas Brighter Future 529 Plan, and is not affiliated with the State of Arkansas. Terms and conditions apply to the Upromise program. Participating companies, contribution levels, and terms and conditions are subject to change at any time without notice. Transfers from Upromise to an Arkansas Brighter Future 529 Plan account are subject to a $50 minimum and are not eligible for the Arkansas state income tax credit.
3 Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
4 An eligible institution includes those that can participate in federal financial aid programs, training and apprenticeship programs, and K-12 programs.