Posted on April 9, 2010.
Can I contribute to a fund for the tax deferred college for me? Since I am single and I do not own a house or something like that, I pay high taxes. I intend to start an MBA program for Fall 2007 and I just want to know if the opening of a college PRE taxation of savings account would be possible and beneficial for me. It is even possible for me to do if I will withdraw the money in a year?
Yes you can but it would not much benefit if you were going to use the money in the starting year of the fund. Most of these plans tax-free and you have very little growth in this period of time.
