College Savings Month
September is College Savings Month
Enter for a chance to win $529
my529 is celebrating College Savings Month during September. As Utah’s official and only 529 education savings plan, my529 has been helping families save for college for over 25 years.
The College Savings Plans Network and my529 are excited to announce “What Can a 529 Do For You?” national sweepstakes during the month of September, giving away almost $5,000.
Participants will have a chance to answer the question “What Can a 529 Do For You” or “What has a 529 Done for You” and nine winners will be randomly selected from the submitted entries. Those winners will each receive $529 contributions into a new or existing 529 account in any plan across the country. More information can be found here: www.collegesavings.org/sweepstakes.
NO PURCHASE NECESSARY TO ENTER OR WIN.
What is a 529 plan?
529 plans are specifically designed to save for education costs.
The plans are sponsored by states and educational institutions, and are authorized by Section 529 of the Internal Revenue Code.
Watch the short video below to learn more about 529 plans and my529.
Why choose my529?
We are Utah’s official 529 plan.
my529 has been helping families plan for higher education for over 25 years.
Read more about what sets us apart.
Benefits of my529
You’re in control
- my529 is direct-sold. Open an account on your own.
- Account owners control their accounts — not the beneficiary.
Open an account for free
- No enrollment fee.
- No minimum contribution
- No minimum balance is required.
- If you’re ready, you can start now!
Anyone age 18 or older can open an account
- You can open an account for anyone.
- You don’t need to be related to the beneficiary.
- Utah residency is not required.
- You can even open an account for yourself.
- No age, income, or residency restrictions for beneficiaries.
- Find out more about who can participate.
Tax advantages
- Earnings are tax-deferred
- Withdrawals are tax-free if used on qualified expenses.
- my529 also offers a credit for Utah taxpayer residents.
- Read more about tax advantages.
Low fees
- my529 has some of the lowest fees in the 529 industry.
Saving is better than borrowing
- Every dollar saved is one you don’t have to pay back with interest.
- More savings means less debt.
How much do I need to save?
Calculate future scenarios with the College Savings Estimator.
Where and how can you use funds?
529 funds can be used at any eligible educational institution in the United States or abroad that participates in federal student aid programs.
Use funds for tuition, room and board, computers, internet access, registered apprenticeships and other qualified education expenses.
Learn more, and watch the video below for further explanation.
Interested in opening a my529 account, click here.
Resources and supplemental reading
Utah System of Higher Education
my529 and College Savings Plans Network
- Recommit to saving this fall. During this month, we encourage you to prepare for future education expenses by starting or recommitting to a habit of regular savings. Have you opened a my529 account? If you have one, do you contribute monthly? Is it a good time to increase your contribution? Read more.
- College Savings Plans Network tips for saving as your child grows
- Early, automated, small amounts—pick your savings strategies – my529
- Someday comes quickly: Save early and often – my529
- A Roadmap for whenever you’ve started saving (collegesavings.org)
Related Topics
Who Can Participate?
my529’s Low Fees
Tax Advantages
Qualified Expenses
College Savings Estimator
