May 29 is 529 Day: Do you know what that means?
Do you know what a 529 is? If you do, you’re ahead of most Americans, according to a recent study by the College Savings Plans Network. One-third of Americans have heard of 529 college savings plans — but only one in five actually know what the plans are for.
We are more than happy to get you up to speed! A 529 Savings Plan is simply a savings plan for future education costs, like college. It has tax advantages and earns interest, much the way a retirement plan does. Want to know something really interesting? Now that you know what a 529 is, you are statistically more likely to start saving for higher education. Knowledge really is power!
529 Savings Plans can be used for tuition and required fees, books and supplies, computers and internet access, and room and board.
It’s so simple to open a Florida 529 Savings Plan – you can do it right now! In fact, if you do, we’ll jump-start your savings by contributing $25. And if you set up an automatic monthly contribution of $25 or more, we’ll contribute another $25! But you have to act quickly, because this deal ends May 29, 2019.
529 Savings Plans are one of the nation’s most popular ways to save. Even a small start today can lead to a big impact by the time your child is ready for college.