What are the benefits available to a GC holder

Hi friends,

Can anyone let me know the benefits available to a Green card holder in USA....in terms of tax, exemptions and others.

Whats 401k.....i always hear about it in this context. Educate me on the concept.
Does kids get any special benefits in terms of grants, funding etc in higher education.

Has anyone stayed in USA until the age of 50 or more? What will be the benefits after having citizenship.

Hoping to get some answers.

Hi Happy Women,
1. I guess, there is no such benefits from tax examptions etc by having GC.
2. 401K is the retirement plan, where some amount will be deducted from your pay and it is pre-tax deductable. Some companies put 401k-company matching (company's share towards your 401k). For more info please visit Internal Revenue Service

3. If you have GC, then you are called as permanent resident, unlike you have status as visa holders. There is no special grants/previleges towards kids or their education.
Every parent has to pay the tution fees for their kids depending upon their education.

4. No, idea who has stayed here for more than 50yrs, but I guess it gives a previlege for you to stay as long as you want (not restricted like visa holders) and you could work to any employer.

5. Regarding citizenship: you will become a citizen of US. In case of GC, you need to renew your GC for every 5 yrs and you have to stay min 60months in the same country to have your GC valid. Where as if you have citizenship, there is no restrictions about your stay in this country.

Hope that most of your queries are cleared.

Regards.