By Bryn Ramjoue’, Utah my529 Marketing Director
You’re paying for braces, sports and dance lessons. With as much as it costs to raise a child today, putting money away for college may be the last thing on a parent’s mind.
my529, Utah’s official 529 educational savings plan, may be able to help.
Earnings on investments in a my529 account grow tax-deferred, and withdrawals are free from federal and Utah state income taxes when the funds are used for qualified higher education expenses, such as tuition, fees, books, supplies, computers, internet access, and room and board costs. You can use funds at colleges, universities, and trade and technical schools in the United States and abroad that are qualified to participate in federal student aid programs.
Utah residents can qualify for a Utah state income tax credit for contributions. See my529.org for more information.
Family members and friends also can contribute to your my529 account. Activate the my529 Gift Program and invite loved ones to give a lasting gift to your beneficiary.
It’s easy to sign up. Opening an account at my529.org takes less than 10 minutes. my529 does not require an initial contribution, nor does it require minimum or ongoing contributions. Families can contribute as much and as often as their budgets allow.
Money invested in a my529 account may not cover all of the costs to attend a college, university or technical school, but it can help you get started.
Learn more at my529.org. Questions? Call 800.418.2551, or email email@example.com.
Bryn Ramjoue’ is the Marketing Director for my529, Utah’s educational savings plan. Utah Business named Bryn one of 2021’s Sales & Marketers of the Year. She has more than 20 years of experience in marketing.
Important Legal Notice
Investing is an important decision. Read the Program Description in its entirety for more information and consider all investment objectives, risks, charges and expenses before investing. For a copy of the Program Description, call 800.418.2551 or visit my529.org. Investments in my529 are not insured or guaranteed by my529, the Utah Board of Higher Education, the Utah Higher Education Assistance Authority or any other state or federal agency. Your investment could lose value. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-insured accounts. Please read the Program Description to learn about the FDIC-insured accounts. The state in which you or your beneficiary pay taxes or live may offer a 529 plan that provides state tax or other benefits, such as financial aid, scholarship funds and protection from creditors, not otherwise available to you by investing in my529. You should consider such benefits, if any, before investing in my529. my529 does not provide legal, financial, investment or tax advice, and the information provided in this document does not contain legal, financial, investment or tax advice and cannot be construed as such or relied upon for those purposes. You should consult your own tax or legal advisor to determine the effect of federal and state tax laws on your particular situation.
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