The Utah 529 plan has a special Christmas gift for Utah residents that open a new account: a $25 bonus.
Here are the details:
Now is the best time to open a Utah Educational Savings Plan (UESP) college savings accounts for your kids, grandkids, or other loved ones. Enjoy a $25 matching contribution compliments of Zions Bank by opening an account by December 30, 2011, and using promotional code 1112HOL. (The account owner and beneficiary must both be Utah residents and new to UESP.) Visit www.uesp.org/pdfs/2011-Holiday-Promotion.aspx for complete details.
Sure, it’s a marketing gimmick. But it’s a good one to shed light on the importance of saving for college.
May 29 has been deemed “529 College Savings Day”.
Some 529 plan operators are holding giveaways in conjunction with the day. For example, the Utah 529 Plan is giving away four $529 UESP college savings certificates.
With that $529 being invested, it could add up to a lot more by the time your child or grandchild goes to college.
We’re all trying to save for college. But aside from your typical 529 plan, hopefully you’re counting on your traditional cash savings to help out. The only problem is right now it’s probably earning close to 0% at the bank.
That’s why you should check out the Sallie Mae High Yield Savings account. It’s currently paying 1.4%. You can also get a certificate of deposit at up to 3%.
And if you use Upromise, you can get a bonus automatically deposited into your Sallie Mae account.
Every year, a number of states make changes to their 529 plans. It’s hard to keep up with all of these changes, but I do an annual review of the programs to update some of the most common changes:
-Increases to maximum contribution limits
-Changes in in-state tax benefits and deductions
This year there are some good changes and bad changes. Although many states have increased tax deductions, some have dropped matching grants as they struggle with budget deficits.
You should double check your state here to look for any changes:
Also, some states do better than others at keeping their informational web sites up-to-date. If you notice any errors in my updated numbers, please let me know.
Total assets in Utah’s 529 plans — Utah Educational Savings Plan (UESP) — have topped $3 billion, the organization announced. This is thanks in part to rebounding stock markets, but also a 12.53% increase in accounts last year.
One reason for Utah’s popularity is its lost overall costs. I personally have my daughter’s 529 plan with Utah.