Give Mom a College Savings Plan for the Whole Family
Start a ScholarShare 529 College Savings Account for Mom This Mother's Day
(firmenpresse) - SACRAMENTO, CA -- (Marketwired) -- 05/07/13 -- This Mother's Day, , California's 529 , is encouraging the family to start a 529 college savings account for her college-bound child. Instead of giving mom a gift that will last for one week, like flowers or chocolate, give her a gift that will last many years and improve her family's ability to pay for her child's college costs. It takes only $25 to open a , and with a regular savings routine, her child will be on the right path to pay for college.
Many families have discovered opening a 529 can offer significant benefits. Any earnings from your college fund can grow tax-deferred and are federal and California state income tax-free when used to pay for qualified expenses.
ScholarShare has the tools to make it easier than ever for anyone to contribute to your child's future college tuition costs. Families interested in saving for college can check out ScholarShare's online resource tools on their website. Through the "Give a Gift" option, any gift-giver can open an account or contribute to an existing one.
ScholarShare continues to offer flexible features for anyone interested in starting a college savings plan. Any US citizen, or resident alien with a valid Social Security Number or Taxpayer Identification Number, can open a new account on behalf of a beneficiary. Funds can be used at any eligible educational institution in the nation, and some abroad, for a variety of qualified higher education expenses, including mandatory fees, books, supplies, or even certain room and board costs.
ScholarShare accounts may be opened with as little as $25 per investment portfolio. ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum account balance. Established in 1999, ScholarShare currently holds more than $5.0 billion in assets in more than 244,000 accounts as of 04/12/13. To sign up for an account or for more information about the plan, visit . For information about the ScholarShare Investment Board (SIB), visit . Like ScholarShare on Facebook at and follow us on Twitter at .
Named for the section of the IRS code under which they were created, 529 plans offer valuable tax advantages. Contributions are made with money that has already been taxed. Once funds are placed in the account, investment earnings, if any, are not federally or state taxed, if withdrawn to pay for qualified college costs.
The ScholarShare 529 College Savings Plan Twitter and Facebook pages are managed by the state of California.
TIAA-CREF Tuition Financing, Inc., Program Manager.
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Datum: 07.05.2013 - 15:00 Uhr
Sprache: Deutsch
News-ID 257109
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