September is College Savings Month
September 5, 2018
September is College Savings Month, when families are encouraged to evaluate their college savings needs and goals and to take advantage of Alaska’s 529 offering, the UA College Savings Plan.
The UA College Savings Plan is a tax-advantaged way to save for future education expenses. Benefits include a variety of investment options, several contribution methods and portability. Employees at the University of Alaska have the option to participate through payroll deduction. Please contact us for more information.
Recent improvements to the plan include:
- The GoTuition Gifting Portal, an online tool that makes it easy for friends and family to contribute to a child’s college savings plan in lieu of gifts for traditional celebrations like graduations, baby showers and birthdays. It allows gift givers to conveniently transfer funds to your account.
- Education Planning Center, a comprehensive planning tool that helps plan participants know if they’re on track with their savings goals. It provides personalized, age-specific education passports from birth to graduation, and information on financial aid, scholarships and grants.
- 529 accounts have become even more versatile. Families can now take 529 college savings plan distributions of up to $10,000 per beneficiary per year for tuition at an elementary or secondary public, private or religious school.
The UA College Savings Plan is designed to make saving for educational expenses easy, and to help families make the most of their savings. Happy College Savings Month!