The holiday season can be hectic for families and put a strain on your bank account. And when it comes to your kids, you want to make sure to get them the perfect holiday gift. This year, skip the frenzy that surrounds Black Friday and Cyber Monday and give a gift that keeps on giving – the gift of a more affordable college experience.
Edvest, Wisconsin’s 529 College Savings Plan, is a tax-advantaged investment plan that has helped Wisconsin families prepare for the future cost of higher education for more than 25 years. Opening or gifting to an account isn’t complicated or expensive, but lasts longer than the latest toy, new outfit, or even cash.
Give a Little, Get a Lot
A 529 account like Edvest is a great way for families to save for higher education and benefit from unique state tax advantages. Opening an account takes about 15 minutes and provides several benefits, including:
- Tax incentives – Wisconsin residents can claim a state tax deduction of up to $3,560 per account (2022 tax year), plus any earnings grow tax-deferred and qualified withdrawals are tax-free. Limitations apply.1
- No large upfront cost – open an account with a minimum of $25 and contribute through your bank account or payroll direct deposit.
- Low fees – Edvest is one of the lowest-cost 529 plans available.2
- Flexibility – use funds to pay for tuition, room and board, books, fees, and more at any accredited college, technical school, and apprenticeship program across the country.3
And once an Edvest account is open, anyone can contribute to it via our gifting platform, Ugift®. Not only is this a great option around the holidays, but also for birthdays, graduations, and other special occasions throughout the year! Simply share your child’s Ugift® code with friends and family via email, text, or social media and they can seamlessly contribute online.
The Gift of a Lifetime
Now that you know of an easy and great gift you can give your child, don’t wait! During the season of giving, Edvest is offering a $50 incentive to anyone who opens an account between Nov. 14 and Dec. 9, 2022. Individuals who open an Edvest account with a $50 contribution and sign up for recurring contributions of $30 or more for a minimum of six months, can be eligible for a $50 matching contribution.
It’s simple for anyone to start saving for higher education and receive the $50 bonus. Follow these four steps:
- Open an account between 11/14/22 and 12/09/22 at Edvest.com/offer22
- Make an initial deposit of $50
- Set up recurring contributions of $30 or more for six consecutive months
- Receive the $50 bonus!*
*When you open a new Edvest account with a $50 contribution (and sign up for recurring contributions of $30 or more per month for a minimum of 6 moths) between November 14, 2022, at 12:01 a.m. (CT) and December 9, 2022 at 10:59 p.m. (CT), Edvest will match $50 on or before July 31, 2023. Visit www.Edvest.com/offer22 for terms and conditions. Void where prohibited or restricted by law. Promotion ends 12/9/22. Sponsored by Wisconsin’s Edvest College Savings Plan.
1To learn more about Wisconsin’s Edvest 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 $3,560 for each contributor per beneficiary per year from contributions made into an Edvest College Savings Plan. 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. If the funds aren’t used for qualified education higher expenses, a federal 10% penalty tax on earnings (as well as federal and state income taxes) may apply. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for Wisconsin’s Edvest College Savings Plan.
2ISS Market Intelligence 529 College Savings Fee Analysis 3Q 2022. Edvest’s average annual asset-based fees are 0.16% for all portfolios compared to 0.51% for all 529 plans.
3Withdrawals for tuition expenses at a public, private or religious elementary, middle, or high school and registered apprenticeship programs, can be withdrawn free from federal and Wisconsin income tax. If you are not a Wisconsin taxpayer, these withdrawals 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. Apprenticeship programs must be registered and certified with the Secretary of Labor under the National Apprenticeship Act.