FreshmanFund.com: A 529 Gift Registry
FreshmanFund.com puts a new spin on saving for college. The site lets you set up a “529 gift registry” that anyone an contribute to. Instead of having Grandma right a check to Junior for his birthday, they can send that money directly into FreshmanFund.com.
The idea, as described at FreshmanFund:
It all started at a birthday party for a 4-year-old niece. As she tore through a stack of expensive, thoughtful presents and tossed them aside to be quickly forgotten, we couldn’t help but think how much we would have preferred to contribute the cost of the present to a college fund instead. Thus The Freshman Fund was born.
Freshman Fund is an easy way for parents, relatives and friends to contribute gift money to college savings. Birthdays, holidays and other events could be opportunities for a more meaningful, practical gift. A dollar saved today in a tax-free 529 plan could grow exponentially by the time the child is ready for college.
Saving for college is one of the most important things a parent can do for a child. As every parent knows, the sooner you start saving, the easier it is. Any amount of saving started today is that much less saving needed in the future. The Freshman Fund is here to help you get started. We look forward to making your job easier.
I like the idea. You should also consider setting up an account with Upromise — see our review.