Edvest College Savings Plan

A Plan for Everyone:
Employees

When saving for your child’s college is as convenient and automatic as taking your retirement or healthcare deductions, saving is a lot easier.

Enjoy tax-free college savings growth.

With an Edvest account, any earnings in your child's account grow 100% free from federal and state taxes.

TAX BENEFITS OF EDVEST
  1. State Tax Deduction
    Qualify for a 2021 state tax deduction up to $3,380 per beneficiary for contributions made into an Edvest account. Limitations apply.1
  2. 100% Tax-Free Growth
    Any earnings grow 100% free from federal and state taxes which can mean more money for college.
  3. Tax-Free Withdrawals
    Withdraw tax free for all qualified education expenses at any accredited college, university or technical college for tuition, room and board, books, computers and more.
WHY AN EDVEST 529 ACCOUNT?

Your 529 plan is financial aid friendly
Your 529 account is viewed as a parental asset for financial aid purposes and counts less against aid eligibility than the same funds held in your child’s name.

Your child gets more opportunities
Use Edvest funds at universities, colleges, technical colleges, graduate and professional schools, many certificate programs, K-12 tuition, apprenticeship expenses and limited student loan repayment.2

You have more control
You’re never locked in, and can withdraw your funds for any reason at any time.3

You enjoy more flexibility
Funds in your child’s account are transferable to another eligible family member which includes siblings, stepchildren, parents…even first cousins.

REQUEST INFORMATION

Would you like an Edvest enrollment kit mailed to you? Do you have other questions about the Plan? Select the button to the right or contact Edvest at 1-888-338-3789.

If you would like help or have additional questions, the Edvest College Savings Plan offers free consultations with a college savings specialist. You can schedule a phone consultation or sign up for a college savings webinar.

GET STARTED
1

Set up your Edvest College Savings Plan account

  • Open a new account
    ENROLL
  • Add payroll contributions to an existing Edvest account
    [ Skip to Step 2 ]
  • Rollover an existing 529 account from elsewhere
    DOWNLOAD ROLLOVER FORM

Tip: Be sure to select "Payroll Direct Deposit" as the method of funding your account in the "Initial Contribution" section of the New Account Application.

2

If you wish to fund your account by payroll direct deposit, you can do so by enrolling online.

  • Log into your Edvest account and select Profile & Documents from the menu. Select Payroll Direct Deposit to begin set up.
    PAYROLL DIRECT DEPOSIT
  • You may also set up recurring contributions from a bank account
    LEARN MORE

Tip: The Edvest Payroll Form must be processed by Edvest before the first payroll contribution (may take up to 10 business days).


Need Employer Instructions? Other Questions?


Confirm that your Edvest payroll direct deposit form has been processed -
Call 1-888-338-3789 (M - F 7:00A - 9:00P CT).

1To learn more about the Wisconsin College Savings Plan, its investment objectives, tax benefits, risks and costs, please see the Plan Description at Edvest.com. Read it carefully. Wisconsin taxpayers can qualify for a state tax deduction up to $3,380 per beneficiary from contributions made in 2021. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. Consult your legal or tax professional for tax advice.

2K-12 withdrawals are limited to $10,000 per year for K-12 tuition. Student loan repayment subject to a lifetime limit of $10,000 when using a 529 plan. Withdrawals for tuition expenses at a public, private or religious elementary, middle, or high school can be withdrawn free from federal tax and Wisconsin income tax. If you are not a Wisconsin taxpayer, you should talk to a qualified professional about how tax provisions affect your circumstances. Withdrawals for registered apprenticeship programs and student loans can be withdrawn free from federal taxes, however may include recapture of tax deduction, state income tax as well as penalties. You should talk to a qualified professional about how tax provisions affect your circumstances.

3If the funds aren't used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply. The treatment of investments in a 529 savings plan varies by school. Assets are typically treated as the account holder’s and not the student’s. (Student assets are generally assessed at 20% whereas parental assets are generally assessed at 5.6%.) Any investments, including those in 529 accounts, may affect the student’s eligibility to get financial aid based on need. You should check with the schools you are considering regarding this issue.

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