Invest in education today for a rewarding tomorrow

Focus on their future

my529, Utah’s educational savings plan, can help you prepare now for your child’s educational future. It’s never too early to start — and you can save what you want, when you want.

According to a study published by the Brookings Institute in June 2024, “higher educational attainment is associated with higher earnings, longer productive lives, better physical and mental health, resilience and adaptability, and personal development and fulfillment.”

Keep scrolling for more information about how my529 can help you save for your child’s future.

Ready to enroll now? Click here for a promotional code to get you started on your savings journey.            

What is a my529 plan?

College Savings Estimator

You’re on your way to preparing for the cost of your child’s higher education. my529 has teamed up with Invite Education to provide a free financial calculator to help.

Why open a my529 account?

529 plans are designed to encourage saving for future education costs. They are sponsored by states, state agencies, and educational institutions, and are authorized by Section 529 of the Internal Revenue Code.

my529, Utah’s official nonprofit 529 educational savings plan, is rated by Morningstar Inc. as one of only two plans nationwide to earn the Analyst Rating™ of Gold. The 2023 award marks the 13^th consecutive year my529 has earned the investment research firm’s top rating.

You’re in control

• Direct-sold — you can open a my529 account on your own.
• Account owners control their accounts — not the beneficiary.

Tax advantages

• Earnings in a my529 account grow tax-deferred.
• Withdrawals are tax-free if used on qualified education expenses.
• Utah state tax credit for Utah taxpayers.

A special promotion for parents

If you are a Utah resident and open a new my529 account for a beneficiary new to my529 between August 1, 2024, and October 31, 2024, and contribute at least $10 at opening, we’ll add a $10 contribution. Just use the promo code 2024BTS when prompted at opening.

How to get the match

1. Open a my529 account between August 1, 2024, and October 31, 2024.
2. Enter promotional code 2024BTS.
3. Contribute at least $10.
4. my529 will deposit $10 into your new account.

To qualify, the account owner must be a Utah resident and the beneficiary must be new to my529.

How and where to use my529 funds

my529 funds can be used for qualified education expenses such as tuition and required fees, books, equipment, computers, internet access, and room and board for students attending at least half time. Additionally, funds can be spent on registered apprenticeships, student loan repayments up to certain limits, and K-12 tuition expenses up to $10,000 annually for public, private, and religious schools.

When it’s time for postsecondary education, the use of my529 funds is not limited to Utah schools. Beneficiaries can attend any eligible educational institution — college, university, trade school, technical college, and graduate school — in the United States or abroad that is qualified to participate in federal student aid programs.

If you are signing up for an account online, enter your promotional code on step four of the account opening process, where you review your information.

If you are signing up for an account by mail, submit Form 100, Individual Account Agreement, and enter your promotional code on the last page. Account owners can schedule contributions through their online account or by submitting Form 200.