A golden deal for future Thunderbirds
Invest for the future with one of the nation’s best 529 plans
A my529 educational savings account can help a loved one reach their dreams by preparing for future education costs—whether your beneficiaries follow you to Southern Utah, or forge their own path at an eligible institution across the U.S. or abroad. my529 has been helping families plan for higher education for 25 years. In fact, my529 has received Morningstar’s top rating for 10 years straight, earning the Analyst Rating™ of Gold in October 2020.
To celebrate our 25th anniversary, we have a golden deal to help you get started.
If you open a new my529 account for a beneficiary new to my529 between August 1, 2021, and December 31, 2021, and contribute at least $20 at opening, we’ll add a $20 contribution.* Just use the promo code 2021SUU when prompted at opening.
How to get the match
- Open a my529 account between August 1, 2021, and December 31, 2021.
- Enter promotional code 2021SUU.
- Contribute at least $20.
- my529 will deposit $20 into your new account.
To qualify, the new my529 account must be for a beneficiary who is new to my529.
*Only valid between August 1, 2021, and December 31, 2021, or while promotional funds are available.
Continue reading to determine whether my529 is right for you.
my529 is direct-sold
You can open a my529 account directly. A financial advisor isn’t necessary.
Anyone age 18 or older can open an account
- You don’t need to be related to the beneficiary
- You can open an account for yourself
- You don’t need to be a Utah resident
- No cost to open an account
Account earnings accumulate tax-deferred. Your balance can grow faster because you don’t pay taxes annually on account earnings.
Earnings on withdrawals are exempt from federal and Utah state income tax if the funds are used to pay for qualified higher education expenses, such as:
- Tuition and mandatory fees
- Books, supplies and equipment required for enrollment
- Computers, related software and equipment, and internet service
- Room and board for students enrolled at least half time
- Services required for a student with special needs to attend a post-secondary school
- K-12 tuition expenses of up to $10,000 per year per beneficiary (from all 529 accounts) at public, private, or religious schools
- Payments up to certain limits on qualified education loans (student loans)
- Registered apprenticeships
my529 fees are among the lowest in the 529 industry. Learn more about my529’s fees and fee structure.
my529 offers 24 investment options. (Note: Your investment could lose value.)
How account funds can be used
Withdrawals can be used for the qualified higher education expenses of your beneficiary at any eligible educational institution in the United States or abroad.
An eligible educational institution generally includes any accredited public or private college, university, or technical school that is qualified to participate in federal student aid programs. Contact your school of interest to determine their eligibility. You can also find a complete list of institutions, updated quarterly, at the U.S. Department of Education federal student aid site.
Important notice: Federal and state tax consequences will apply if account earnings are used for nonqualified expenses.
Utah account owners may qualify for a Utah state income tax credit or deduction.
Please read the my529 Program Description for more information.
Important Legal Notice
my529 was rated “Gold” or its equivalent by Morningstar 2004-2007, 2009, and 2011-2020; rated “Silver” or its equivalent in 2008 and 2010. The Morningstar Analyst RatingTM for 529 college savings plans is not a credit or risk rating. To determine an analyst rating, Morningstar’s analysts consider four factors: the plan’s strategy and investment process (process); an assessment of the individuals managing the plan’s investment options (people); the stewardship practices of the plan’s administration and parent firm (together, parent); and whether the plan’s investment options are a good value proposition compared to its peers (price). Plans are then assigned forward-looking ratings of “Gold,” “Silver,” “Bronze,” “Neutral,” and “Negative.” The top three ratings (Gold, Silver, and Bronze) indicate that Morningstar’s analysts think highly of a 529 plan; the differences correspond to the level of analyst conviction in the ability of a plan’s investment options to collectively outperform their respective benchmarks and peers through time, within the context of the level of risk taken. Morningstar does not rate all 529s every year; it rated just 62 of 92 plans in 2020.
Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst ratings are based on Morningstar analysts’ current expectations about future events and therefore involve unknown risks and uncertainties that may cause Morningstar’s expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its analyst ratings to be guarantees.
Please visit Morningstar.com for more information about the analyst ratings, as well as other Morningstar ratings and fund rankings.