This is Derek Miller Speaking on Business. Saving for a college education is important and 529 Plans are designed to help families maximize education savings. Here to tell us about saving for education is Richard Ellis, Executive Director of my529 — Utah’s official college savings plan.
my529 was established by the Utah Legislature in 1996 to help families save for education. The money saved can be used at any institution that accepts federal financial aid, whether at a university, technical, or trade school.
Named after a section of the federal tax code, Utah’s program now has more than $20 billion in assets and over 475,000 accounts and is recognized as one of the top plans in the country. We have a team of over 90 dedicated professionals working at my529 to make higher education and skills training affordable.
Investments in my529 have helped thousands of students attend schools in Utah and across the country — helping families prepare to pay tuition, as well as fees, books, and computers.
As we enter this holiday season, families and friends have a way to give education savings through gifts made to a my529 account. It’s a great way to give. Visit my529.org to learn more.
529 plans offer tax savings, and Utah’s official educational savings plan can benefit you no matter where you live or plan to go to school. It’s a program worth checking out. I’m Derek Miller with the Salt Lake Chamber, Speaking on Business.