If you were to design the ideal college savings plan for your children, it would probably have a combination of flexible contribution rules, tax advantages for you and other donors, the ability to control the assets and even transfer them to other children, and the right to use it for a variety of education expenses at any type of school. All of these benefits exist in 529 Plans like Tomorrow’s Scholar. 

Key Features

  • Can be used for tuition, room & board, books, fees and supplies at almost any two- or four-year college, technical, vocational or graduate school in the U.S.
  • Flexible contribution limits
  • No time, age, or income limits for contributions
  • Contributions remove assets from taxable estates
  • Federally tax-exempt growth and earnings
  • Account structure allows for joint ownership and owner(s) retains access and control
  • Three ways to invest using world-class managers
  • Special gifting rules allows higher funding opportunities 

Suitable For

Parents, Grandparents, and Guardians with college-bound children


No time, age, or income limits for contributions. Earnings and withdrawals are federally (and in most cases state) tax-free if used for qualified higher education expenses¹

Additional Details

For more information, please visit our Tomorrow's Scholar (opens new window) page.

Additional Resources

This material is provided for general and educational purposes only; and is not intended to provide legal, tax or investment advice. All investments are subject to risk.  We recommend that you consult an independent legal or financial advisor for specific advice about your individual situation.

Tomorrow's Scholar is Wisconsin's state-sponsored college savings plan administered by the College Savings Program Board and the State of Wisconsin. Voya Investment Management provides investment management and administrative services for Tomorrow's Scholar. Shares in the program are distributed by Voya Investment Management. This Web site is accompanied by a current program description for the Tomorrow's Scholar plan. An investor's or a designated beneficiary's home state may offer state tax or other benefits that are only available for investments in that state's qualified tuition program. Please consider this before investing. Non-qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax. The tax information herein is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

An investor should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. More information about municipal fund securities is available in the issuer’s Program Description. You may obtain a Program Description at TomorrowsScholar.com or by calling 866-677-6933. The Program Description should be read carefully before investing.

Securities offered through Voya Financial Advisors, Inc. member SIPC.

Neither Voya nor its affiliated companies provide tax or legal advice. Please consult with your tax and legal advisors regarding your individual situation.  

1 If withdrawals are used for purposes other than higher education, the earnings will be subject to federal income tax and possibly a 10% federal tax penalty.