Invest in the U.’s next generation
Inspire your child’s 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 the U., 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 more than 25 years.
And we have a deal to help you get started.
If you open a new my529 account for a beneficiary new to my529 between September 1, 2022, and December 31, 2022, and contribute at least $20 at opening, we’ll add a $20 contribution.*
How to redeem
- Open a my529 account between September 1, 2022, and December 31, 2022.
- Enter promotional code UUFALL22.
- Contribute at least $20.
- my529 will deposit $20 into your new account.
To qualify, the account owner must be a Utah resident and the beneficiary must be new to my529.
Enter your promotional code on step four of the account opening process, where you review your information.
Continue reading to determine whether my529 is right for you.
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 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 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.
my529 is direct-sold
You can open a my529 account directly. A financial advisor isn’t necessary.
Please read the my529 Program Description for more information