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College Savings 101

Give a Gift that Grows with your Graduate!

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This graduation season doesn’t look like it has in years past, with an abbreviated academic year for many students and canceled ceremonies. It’s still important, however to congratulate 2020 graduates on a job well done and celebrate the season no matter how different.

One fact that remains is that there’s no better gift to mark the occasion than by contributing to your loved one’s future.

Whether you are planning early for a kindergartener or rising 9th grader, or you’re celebrating a high school graduate, your loved one will appreciate a gift that grows with them. Every little bit helps, and Virginia529 makes it easy to save for a child’s education!

 

It’s Easy.

Give your child a head start on their post-high school education by opening an Invest529 account with as little as $10, and you can encourage family and friends to make gifts to that account in honor of your graduate. You can save at your own pace plus, your account grows tax-free!

Virginia529 even offers three, easy ways for family members and friends to contribute to your graduate’s account. Contributions can be made online through Virginia529’s Online Gift Portal, by purchasing a gift card or with a printable gift certificate!

 

It’s Flexible.

Your child’s future plans may still be broad. That’s OK! There are many paths besides college that a student can take to continue their education such as trade schools and apprenticeships. Invest529 accounts can be used can be used for those qualified trade programs and apprenticeships, at public or private universities, graduate schools, vocational schools and private or religious K-12 schools to fund qualified higher education expenses at schools nationwide and even some overseas.

The accounts aren’t just for tuition, either! Your account can be used to pay for qualified higher education expenses including certain room and board costs, computers and related technology expenses, as well as fees, books, supplies, and other equipment.

Right now is an uncertain time, but it is still an exciting time for graduates. This year’s graduation season --- just like every year—doesn’t mark the end of your student’s education. This is a new beginning.

Congratulations to the class of 2020! Invest in your child’s future this graduation season by giving the gift of college savings!


Smart Savers Blog


Resources to help you learn

Virginia529 offers free, in-person information sessions at locations across Virginia. These hour-long sessions highlight the program’s three plans, explain the benefits to account owners and give you the chance to get your questions answered. If you don’t live near one of our in-person sessions, Virginia529 offers online webinars where you can learn more from the comfort of your own home.