RICHMOND, Virginia–May 26, 2017–Virginia529 applauds Congressman Rob Wittman (VA-01) for introducing yesterday H.Res.369 recognizing May 29, 2017 as “National 529 Day.” 529 Day raises awareness about the importance of planning and saving for higher education and the advantages 529 plans give Americans to save for their personal and professional goals.
To grow the economy, United States employers need a well-educated workforce with skills to compete and innovate. Post-secondary education at colleges, graduate schools, vocational schools and technical institutions leads to better jobs and higher earnings.
To many families, however, the cost of education can seem prohibitive or lead to students incurring excessive debt from student loans.
Saving in advance for higher education helps Americans gain life-changing skills and reduces the need to rely on loans. Tax-advantaged 529 savings plans allow individuals to dedicate funds towards their own education or the education of a loved one with earnings that grow tax free when used toward qualified higher education expenses.
A parent, grandparent or adult student may start a Virginia529 account with as little as $25. Funds saved in 529 plans generally may be used for tuition, textbooks, computers, food and housing.
Learn about 529 Day and Virginia529 at Virginia529.com.