MADISON — While saving for college can seem overwhelming, one thing can be certain — saving for this major milestone is less expensive than taking out student loans. College Savings Month, celebrated throughout the month of September, aims to educate families on the benefits of saving for a loved one’s higher education and career training with a 529 college savings plan.
Whether pursuing a two- or four-year college or university, a technical degree, trade program, or a registered apprenticeship, funds saved in a 529 college savings plan can support students post-high school goals.
A great place to start is with Edvest 529, Wisconsin’s only direct-sold college savings plan. Edvest 529 is specifically designed to help parents save for future college costs while offering some attractive tax incentives. Wisconsin residents can receive a state tax deduction of up to $5,000 per beneficiary for single filers or married filing jointly for contributions made into an Edvest 529 account. Additionally, earnings grow 100% tax free if used for qualified expenses like college tuition, books, room and board, computers, and more.
In celebration of College Savings Month and to help families jumpstart their college savings, Edvest 529, is announcing a $50 bonus for new accounts opened between September 9 and 27, 2024.*
Follow the steps below to start saving and to receive a $50 bonus contribution to a new Edvest 529 account.
1. Open an account between Sept. 9-27, 2024, at Edvest.com/bonus24.
2. Make an initial deposit of at least $50.
3. Set up recurring contributions of $30 or more for six consecutive months.
4. Receive the $50 bonus.
“College Savings Month presents the perfect opportunity for parents, grandparents, and other family members to talk to the students in their life about higher education options and career aspirations, and to start or continue saving for their goals,” said Wisconsin Department of Financial Institutions Secretary Cheryll Olson-Collins. The Wisconsin Department of Financial Institutions administers the Wisconsin 529 College Savings Program, which includes the Edvest 529 College Savings Plan. “We hope this special Edvest 529 bonus offer provides families with the spark they need to start their education savings journey today,” added Olson-Collins.
For more information on Edvest 529, including investment options, fees, and frequently asked questions, visit Edvest.com, or follow Edvest 529 on Facebook, Instagram, and YouTube.
About Edvest 529
For more than 25 years, Edvest 529 — Wisconsin’s only direct-sold 529 college savings plan — has been helping families save for higher education expenses. Account owners can choose from 24 investment portfolios, access easy-to-use savings tools, and take advantage of triple tax benefits. Edvest 529 has received numerous accolades, including being named Silver by Morningstar Investment Research for the second year in a row, earning a 5-Cap Rating by SavingForCollege.com, and a 2023 Platinum MarCom Award for website redesign.
Edvest 529 is a tax-advantaged investment, meaning contributions to an account may qualify for a 2024 Wisconsin state income tax deduction of up to $5,000 per contributor per beneficiary, per year, for single filers or married couples filing a joint return. The plan has no sales charges, enrollment fees, or annual account maintenance fees. In fact, Edvest 529 is the fifth lowest-cost 529 college savings plan in the nation.
Want more details?
Check out our “What is the best option for college savings” video in our new College Savings Connection video series for more of a breakdown of what a 529 plan is, and its tax benefits.
