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How much can I contribute to the Global Plan?
The Global Plan is an Education Savings Plan that grows with your child. When the Global Plan is registered, your savings are invested to grow and earn interest tax deffered. You can contribute as little as $25 a month or up to a lifetime maximum of $50,000. And you can contribute to the Global Plan for up to 31 years and take up to
35
years to use.
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Income earned in the Global Plan grows tax deferred. Taxes are paid by the student when money is withdrawn to pay for education costs. Since most students have little or no income, the student pays little or no income tax. |
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