Besides a mortgage, tuition is often the largest debt a family may ever have.
As college kicks off for students this fall, it's the perfect time to think about investing early.
We asked Bryn Ramjoue, Marketing Director for My529, to explain how the college savings plan works.
A 529 plan is a tax-free investment for tuition, fees, housing, meals, supplies, and internet. It's a financial tool that anyone can use for higher education.
My529 is the offering from the state of Utah. It has benefits over other plans including an earned Morningstar GOLD rating and a state tax benefit.
People can use their 529 funds anywhere that accepts financial aid including everything from Ivy League schools to beauty, tech and trade schools too.
You can find out what schools in Utah accepts it by visiting CollegeIsUtah.com.
And, if you'd like to learn how much My529 could save you, they have a savings calculator to figure it out. For more information please visit my529.org.
My529 also wants to help you win some cash for college. Click here for more information.
