As reported by Jeff Stein in the Washington Post (May 17): “The Internal Revenue Service will on July 15 start delivering a monthly payment of $300 per child under 6 and $250 per child 6 or older for those who qualify. The monthly benefits will be deposited directly in most families’ bank accounts on the…
Category: 529 college savings
Plan ahead for post-secondary education with a 529 account: Utah residents can get free money from Utah’s 529 plan
Your child is about to finish another school year—one of the most challenging for many students. With their future in mind, my529 is celebrating 5•29 Day by offering a boost for their educational dreams. Up to $40 contributed to your new my529 account Open a new my529 account between May 1 and May 31, 2021,…
Who should own 529 Educational Savings Account?
When considering a college student’s eligibility for financial aid, who owns their 529 account makes a difference. Sarah Mouser, writing for Advisor Perspectives explains. “Parent-owned 529 plans are treated differently than grandparent-owned 529 plans when applying for financial aid and completing the free application for student aid (FAFSA).” “When a 529 plan is owned by…
Utah Educational Savings Plan (UESP) has new name: my529
On February 5, 2018, the Utah Educational Savings Plan (UESP) will become my529. We are the same company—we’re just changing our name.So why the name change? The new name communicates that we are a national 529 plan, an investment vehicle created by Congress specifically for college savings. “529 funds can be used at any eligible…
Utah, Nevada & Virginia 529 College Savings Plans rated Gold by Morningstar
Only three state 529 plans that offer tax-advantaged savings plans for children and adults received the highest rating from Morningstar. Check out UESP.org for more details on Utah’s perennially top-rated plan. Most adults don’t realize that they can save for their own education through a 529 plan. Source: Financial Planning for Women
How to encourage donations to 529 college savings plans
Behavioral psychologist Dan Ariely responded to a parent who would like to encourage monetary gifts to a child’s 529 college savings plan in lieu of the usual gifts. As reported in The Wall Street Journal, Dan replied: “Giving money is often more economically efficient than giving stuff, but the feeling of social connection that we…
How to Pay for College
Despite presidential campaign rhetoric, it is extremely unlikely that college tuition will be free in the U.S. any time soon (or even in distant future). Remember how much Americans HATE to pay taxes? Taxes are what support our public institutions of higher education. When students complain about minor tuition increases at Utah State (one of…