Celebrate College Savings Month
September 9, 2019
September is College Savings Month, and to celebrate, the UA College Savings Plan program is giving away four $529 scholarship accounts! Check the plan's Facebook page to find out how to qualify for the random weekly drawings.
September is a good time for all families to evaluate their college savings needs and goals, and to take advantage of the UA College Savings Plan.
Did you know?
- A 529 plan is a tax-advantaged way to save for future educational expenses. While the contributions are made with post-tax dollars, the earnings grow free of federal tax.
- You can use funds at any educational institution that is eligible for federal financial aid, and it doesn’t have to be a university! You may also use your account at technical and vocational schools.
- It covers more than just tuition. Books, fees, housing and required supplies are all eligible expenses.
- You may use your account to cover up to $10,000 per beneficiary per year for tuition at public, private or religious schools.
As a UA employee, you can save for your loved ones’ future education expenses through automatic payroll deductions. To participate in payroll deduction, first set up an account in the UA College Savings Plan. Enroll online or by calling 800-478-0003 . Then, fill out a Payroll Deduction Request form and return it to our office . Alternatively, you can enroll in automatic monthly contributions .
We aim to make saving for college easy and help you make the most of your savings. Happy College Savings Month!