One appeal of 529 programs is that substantial amounts of money may be contributed to an account and low minimum contributions can start a plan.  For calendar year 2006, federal tax law allows a maximum contribution of $60,000 in the first year of a five-year period without exceeding the annual federal gift tax exclusion.  Each state sets the overall total maximum amount that can be invested in their program.  There is no maximum limit on the value to which an account may grow.  Currently some programs allow contributions of over $330,000 per beneficiary.  The maximum contribution limits are usually adjusted annually by each state to reflect inflation of college cost in their state.  Minimum monthly contributions to start a plan vary with each state's program.  A few programs do not have a minimum and will open an account for as little as a $1.00.  An automatic monthly contribution of $25 to $50 is the norm to start for most programs.  If you are starting your account without automatic monthly contributions, the required opening balance may range from $250 to $1,000.