Saving for college is a daunting task, with education costs rising faster than inflation. But for families who use a Virginia529 plan, the journey becomes significantly more manageable. The plan is designed to help you save thousands of dollars, not just by providing a place to invest, but by creating powerful tax advantages and investment opportunities that maximize your savings. Here’s a breakdown of how using a Virginia529 plan can help you save thousands on education costs. 1. Tax-Free Growth and Withdrawals 1 This is the biggest way Virginia529 can save you money. In a regular taxable investment account, you would have to pay capital gains taxes on your investment earnings each year. 2 With a Virginia529 account, your money grows tax-deferred, and when you take a "qualified" withdrawal, all of the investment earnings are completely tax-free at both the federal and state level. Let's look at an example: Regular Account: You invest $50,000 and it grows to $100,000 ...