Make College Savings a Part of Your Estate Planning

By Lucas Minor
Marketing & Communications Coordinator, Guaranteed Education Tuition
June 13, 2013

You may have heard someone say, “My grandmother left me some money for college … .”  It’s clear how much that grandparent valued higher education, and it shows her belief in that student’s future success. That kind of confidence is an inspiring gift with many intangible qualities.

The best estate plans will make the most of your assets while confirming the values most important to you. A proven method of encouraging higher education - while maintaining asset control and reducing tax liability - is to open 529 college savings plans for your children or grandchildren.

Why a 529 Plan?
529 plans have significant advantages over other savings vehicles such as mutual funds, bonds or savings accounts.  They allow you to maintain control over your asset and protect it from estate taxes. Plus, growth and withdrawals from a 529 plan are tax free when used for qualified higher education expenses. Another benefit of investing in 529 plans is that these assets are typically protected in bankruptcy filings.

529 College Savings Day May Be Over, But Any Day Is A Great Day to Save

By Hon. Michael L. Fitzgerald
State Treasurer, State of Iowa
June 5, 2013

May 29th marked 529 College Savings Day, a day to raise awareness about the importance of saving for college with 529 plans. With over 30 states across the U.S. are celebrating 529 Day during the month of May, families across the country had the opportunity to participate in some exciting events from discount zoo admissions to 529 plan scholarships giveaways.  We at the College Savings Plans Network (CSPN) led the way with our first ever 529 Day 529 plan scholarship giveaway.  We awarded 10 different $529 scholarships to the lucky winners who “Liked” our Facebook page.  People from 42 states and the District of Columbia entered the contest and the winners represented states from Washington to Kentucky!

 

If you missed the scholarship giveaway, keep checking our Facebook page, twitter feed, and this blog for college saving tips and insights from college savings experts across the country.  And, even though 529 College Savings Day is over, remember that any day is a great day to start saving for a loved one’s future education. 

What’s Your State Doing for 529 College Savings Day?

By Hon. Michael L. Fitzgerald
State Treasurer, State of Iowa
May 23, 2013

May 29th marks 529 College Savings Day, a day to raise awareness about the importance of saving for college with 529 plans. This year more than 30 states across the U.S. are celebrating 529 Day during the month of May. States are hosting 529 education sessions, waiving enrollment fees, discount admissions to zoos, offering 529 plan scholarships and more. Today, we at The College Savings Plans Network(CSPN), the nation’s leading objective source about Section 529 College Savings Plans and Prepaid Tuition Plans, have released an infographic detailing these great events. The full infographic is available online.

We’re seeing a wide range of state programs and involvement around 529 Day, which will result in more people learning to save early and often for college. “By educating consumers about 529 plans, the next generation of students will have greater financial access to higher education, and less of a reliance on loans and debt. Anyone with a child in their life should check out their local activities in our infographic and make this 529 Day count by learning something about college savings.

2013 CSPN Annual Conference

By Mary Anne Busse
Managing Director, Great Disclosure LLC
May 15, 2013

The College Savings Plans Network (CSPN) is meeting this week in Pittsburgh for the annual National Association of State Treasurers Treasury Management Symposium.  529 Plan representatives from all over the country are discussing ways to make 529 Plans available to every college saver in the country.  This morning, state representatives had a chance to share significant program initiatives, marketing strategies, insights and innovations for their plans.  Here are some highlights:

Many 529 Plans offer scholarships ranging from $500 to $10,000!  Some also offer sweepstakes or give aways.  And some still have matching grant programs where the state actually matches some of your contributions! Some kids can even score free tickets to professional football games!    Many 529 Plan scholarship programs are needs based while others are available to anyone.  What an amazing way to jump start your college savings!

Many 529 Plans have Facebook pages designed to help folks learn more about saving for college and financial literacy. There are even a couple of apps for your kids that are great educational games called Big Start and Big Dreamers.  You can find them at the iTunes App Store.

Pennsylvania offers a live webinar to help accounts owners navigate the FAFSA.  It's available for rebroadcast at www.pa529.com/webinars.html.

Happy Mother’s Day

By Patricia Roberts
Managing Director & Senior 529 Product Manager, AllianceBernstein L.P.

May 11, 2013

As Mother’s Day approaches and with graduation season just around the corner, it is an ideal time to honor the women in our lives who have offered support and encouragement with respect to educational pursuits.

For reading to us at night, for patiently holding up flashcards in our early days of mastering multiplication and division, for sitting attentively as our “audience” for book reports and presentations, for showing such interest in projects large and small along the way, we thank you.  We also thank you for encouraging us to follow our dreams and for helping us to make them a reality with some careful planning and sacrifice. 

H.R. 529 - Savings Enhancement for Education in College Act

By Joan Marshall, Executive Director, College Savings Plans of Maryland & Mary Morris, Chief Executive Officer, Virginia529
May 7, 2013

May is a month of celebrations, as youth across the country graduate from kindergarten thru college. CSPN and its members also celebrate in May – on the 29^th for National 5-29 Day by holding events across the country to raise awareness of the need to save for higher education.  National 5-29 Day also helps families learn about 529 college savings plans and how they can help families achieve their dreams of higher education for their children and grandchildren.

In addition to outreach and education about 529 plans, CSPN works with Congress to strengthen the options and flexibility of 529 plans for participants. CSPN has a positive working relationship with Congress and has achieved numerous successes through this federal and state partnership. We continue to work to improve the plans for the benefit of all Americans. In this post, we share with you just one CSPN initiative pending in Congress – H.R. 529.  Future posts will highlight other initiatives as CSPN continues to focus on expanding the reach of 529 plans to help families across the country.

CSPN Helps Families and Friends Give the Gift of College Education

By Hon. Michael L. Fitzgerald
State Treasurer, State of Iowa
April 30, 2013

Whether they are graduating from kindergarten, elementary school or high school, there is no better way to celebrate a child’s education than with a contribution to their 529 Plan college savings account. This graduation season, in order to encourage families and friends to give the gift of higher education, the College Savings Plans Network has compiled information and tips for people looking to give the gift of education.

Nearly all 529 plans have safe and convenient ways for friends and family to contribute to established accounts. In addition, several commercial websites unaffiliated with 529 plans provide tools to assist with gift giving. It’s important that parents do their homework before encouraging gifts for their own child and that friends and family understand the process as well.

As the cost of higher education continues to rise, putting a child through college takes a village.  CSPN’s goal is to make the gift-giving process as seamless as possible. By educating the general public about 529 Plan gifting, more students will ultimately benefit.
For more information about gifting and 529 plans go here.