New NC law increases protection for 529 plan

RALEIGH, N.C. (WTVD) -- A new law is increasing protection for North Carolina's 529 college savings program.

The money families save in the state's 529 Plan is no longer accessible by creditors or debt collectors.

529 accounts help people save for the college education of their children or grandchildren.

The law also applies to the state's NC Able accounts allowing guardians of people with disabilities to save money for care expenses.

The protection does not apply if money was put into the saving accounts following criminal activity.