Wisconsin 529 College Savings Program

The Wisconsin 529 College Savings Program (CSP) offers two savings plans to save for higher education under Section 529 of the U.S. Internal Revenue Code: Edvest 529 (direct-sold) and Tomorrow's Scholar (advisor-sold). Both plans are qualified tuition programs under 26 USC 529 and are administered by the State of Wisconsin’s Department of Financial Institutions (DFI). For assistance with a current account, or to receive assistance with opening a new account, please contact Edvest 529 or Tomorrow's Scholar customer support directly.

  • Edvest 529 Customer Support: (888) 338-3789
  • Tomorrow's Scholar Customer Support: (866) 677-6933

Wisconsin College Savings Program Board

The Wisconsin College Savings Program Board has administrative and oversight authority for the Edvest 529 and Tomorrow's Scholar plans. Visit the Wisconsin College Savings Program Board page for full roster, contact information, meeting agendas and minutes.

Partner with the Wisconsin College Savings Program

If you're interested in improving higher education savings rates in your community, the College Savings Program can partner with you on your efforts.  Learn more about how to partner with the programhere.

Tax Information for Wisconsin Account Owners

Contributions to a Wisconsin 529 College Savings Plan – Edvest 529 or Tomorrow’s Scholar – made by a Wisconsin taxpaying adult can reduce their state-taxable income, dollar-for-dollar, up to amounts set annually by the Wisconsin Department of Revenue. The Wisconsin state income tax deduction for contributions made to a Wisconsin 529 plan is available to any Wisconsin taxpayer, making gift contributions a benefit for family members or friends.

  • 2023 Tax Deductible Amounts: $3,860 per beneficiary for single filers or married filing joint, OR $1,930 per beneficiary for married filing separate and certain divorced parents of a beneficiary.
  • 2024 Tax Deductible Amounts: $4,000 per beneficiary for single filers or married filing joint, OR $2,000 per beneficiary for married filing separate and certain divorced parents of a beneficiary.
  • Carry Forward: Contributions in excess of the maximum annual deduction may be carried-forward and applied in subsequent tax years. The subtraction for married filing separately or divorced parents is half the current year’s maximum annual deduction amount. Numbers are subject to an inflation adjustment and rounding each year.
  • Rollovers: Rollovers from other states' 529 plans are accepted. The principal portion (or contributions portion) may qualify for reducing your Wisconsin taxable income, including carry-forward for subsequent years; the portion attributed to growth is not eligible for a tax deduction on your Wisconsin income taxes. Amounts that received a previous Wisconsin reductions are not eligible.
  • 365-Day Rule: The 365-Day Rule effects the tax treatment on contributions when a withdrawal is made within a 365-day period. Two examples: (1) Pat opens an account with $2,000 in December 2022 and subtracts on their 2022 tax return. In August 2023, $1,000 is withdrawn for qualified college expenses. Since the $1,000 had not been in the account for 365 days, $1,000 is then added back as taxable income on their 2022 tax return. (2) Same situations as above, but the account was open with $1,000 in 2021, before the 2022 addition of $2,000. In this case, the withdrawal would be considered as taken from the older money outside of the 365-day window and is not reported as income on 2022 taxes. This method often follows 'first-in, first-out' accounting principles.
  • Schedule CS Tax Form: Contributions and distributions (for qualified expenses and non-qualified uses) are reported on the State of Wisconsin DOR Schedule CS, and attached to Form 1, the state income tax return. The schedule and instructions are at the Wisconsin Department of Revenue website.
Maximum 529 Account Balance: Wisconsin's maximum 529 plan account balance is $545,500 as the sum of all Wisconsin plan accounts for the same beneficiary (i.e., Edvest 529 plus Tomorrow's Scholar plus Tuition Units). This amount is effective as of January 2023.

Benefits of Wisconsin’s 529 College Savings Plans

  • Low-cost investment options: Choose from portfolios that range from conservative to more aggressive allocations to align with your time frame and investment objectives. Both passive (indexed) and actively managed portfolios are available, along with stable value choices. Institutional class investment fees make college savings more affordable.
  • Flexible contribution amounts: Open an account for as little as $25, plus consider recurring contributions in an amount that fits your budget. You control the amounts and frequency of automatic deductions or lump-sum payments. You can contribute via payroll direct deposit, via ACH from your bank account, or by check.
  • Most expenses and schools are eligible: Funds can be used at any accredited public or private university, college, technical college, community college, or professional school nationwide and many abroad, as well as toward the cost of apprenticeships registered and certified with the Secretary of Labor under the National Apprenticeship Act. Additionally, funds can be used for K-12 tuition (up to $10,000 per year, per student) and to pay back student loans ($10,000 lifetime limit). Qualified higher education expenses include tuition, certain room and board expenses, fees, and the cost of books, supplies, and equipment required for the enrollment and attendance of the Beneficiary at an eligible educational institution. Computers and related technology such as internet access fees, software or printers are also qualified when used primarily by the beneficiary when enrolled at an eligible educational institution.
  • No age, income, or time limits: Any adult can contribute to an account--there are no income level restrictions, or age limitations for owners or beneficiaries (minimum age of 18 for account owners). Accounts may also be used for graduate school, continuing education, or classes later in life.
  • Federal and state tax advantages: Earnings in your account grow both federal and state tax-free when used for qualified higher education expenses.
View contribution, rollover, and distribution FAQs for Wisconsin 529 College Savings Plans on the Wisconsin Department of Revenue website.

Contact Us

Wisconsin College Savings Program
Phone: (608) 264-7899
Email: CollegeSavingsProgram@dfi.wisconsin.gov