Get a head-start on your future

Preparing for the costs of higher education is one part of a plan for a sound financial future. And it’s never too early to begin investing for the costs of university, college or technical school. To help you get started, my529 is providing this promotional offer for people who attended the 2020 Women in the Money conference.

If you open a new my529 account for a beneficiary new to my529 between October 9-23, 2020, and contribute at least $20 at opening, we’ll add a $20 contribution.* Just use the promo code 2010MONEY when prompted at opening.

How to do it

  1. Open a my529 account between October 9-23, 2020.
  2. Enter promotional code 2010MONEY.
  3. Contribute at least $20.
  4. 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 October 9-23, 2020, 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

Tax-deferred growth

Account earnings accumulate tax-deferred. Your balance can grow faster because you don’t pay taxes annually on account earnings.

Tax-free withdrawals

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

Low fees

my529 fees are among the lowest in the 529 industry. Learn more about my529’s fees and fee structure. 

Investment options

my529 offers 13 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.