DAYTON, Ohio (WDTN) — As high school seniors approach graduation season, this is a time to consider college expenses. Eric Ebbert with River Valley Credit Union shared some tips on college savings plans like the 529 plan.

Eric said the 529 Education Saving Plan is a great tool to help cover qualifies expenses like private kindergarten through 12th grade as well as qualified higher education like college or trade programs.

He said in the state of Ohio, you can receive tax deductions up to $4,000 per beneficiary. 529 plans grow tax-free as long as they are used for qualified education expenses.

For more information, watch the video above!

*This segment is sponsored by River Valley Credit Union.