How you can start saving for child’s education

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Jenny Sass, Outreach Specialist for Utah Educational Savings Plan, is here talking about the one thing on every graduates mind-tuition money.

May 29th is national 5-29 Day and because Utah Education is a 529 plan, they have a promotion for Utah residents to open accounts.

If Utahans open an account on either May 29th or 30th and put in $25, they’ll match the first $25. If they contribute the $25 AND ALSO set up a recurring monthly contribution to their new my529 account… they’ll contribute an additional $15 in November (six months later).

About my529:

It is a tax-free growth on investment when used for tuition, certain room and board costs, books, fees, computers and computer-related costs.

You don’t have to go to a Utah school, you can go to any school that accepts federal financial aid (public, private, in-state, out-of-state, tech school, junior college, etc.).

Additionally, you can use up to $10,000 per year, per beneficiary, to also pay for K-12 tuition at any public, private, or religious school.

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