The cost of higher education is only going up, but that shouldn’t get you down. Saving for college doesn’t need to be a burden. With the Edvest College Savings Plan, there’s no big upfront investment and getting started takes about as long as grabbing a cup of coffee.
With Edvest you can easily open an account in just 15 minutes and easily manage it online or by mail. By setting up recurring contributions from your bank account or by payroll deduction (if supported by your employer), making regular contributions is hassle free.
Wisconsin residents receive unique tax advantages and your earnings, if any, are free from federal income tax when used for qualified expenses. In the meantime, your contributions are reinvested automatically so your account can grow more than a taxable account over the same period.
Funds can be used at any accredited university, college, technical college, or professional school nationwide — and many abroad. Basically any institution with a student aid program qualifies. In addition, up to $10,000 annually can be used toward K-12 school tuition per student from all 529 Plans.
Edvest can be used to pay for tuition, certain room and board costs, computers and related technology expenses, as well as fees, books, supplies, and other equipment. In addition, up to $10,000 annually can be used toward K-12 school tuition per student from all 529 Plans.
Many parents worry that a 529 Savings Account can adversely affect eligibility for financial aid. So long as the parent is the account owner, funds are typically treated as belonging to the parent, not the child, minimizing the impact on financial aid.*
Open an account with as little as $25, or select automatic payroll deduction. Since there are no application, sales, or maintenance fees, it’s affordable even for those on a modest budget.
You don’t have to do it all on your own! Grandparents as well as other family and friends can make gifts to your account for maximum growth potential.
If it turns out your child or grandchild doesn’t need all the money or their education goals change, you can designate a new beneficiary penalty-free so long as they’re an eligible member of your family.
Edvest provides a variety of professionally managed investment portfolios to choose from including enrollment year options intended for those saving for college that automatically change as the beneficiary approaches college age. Alternatively you can tailor your portfolio with multi-fund, single-fund, and stable principal options to match your risk tolerance, timeline, and investment preferences.
When you or anyone else makes a contribution, it may qualify for an annual gift tax exclusion of $16,000 per year for single filers and $32,000 a year for couples. As a 529 Plan, Edvest is the only investment that allows you to give up to 5 years’ worth of gifts at one time — for a maximum of $80,000 for a single filer and $160,000 for couples.
OPEN AN ACCOUNT
Open your account online today and your Edvest account could be growing by bedtime.