MADISON, Wis. (November 30, 2021) – During the season of giving, Edvest – the state of Wisconsin’s direct-sold 529 college savings plan – is offering a $50 incentive to anyone who opens an account between Dec. 6 and Dec. 20, 2021.* Individuals who open an Edvest account with a $50 contribution and sign up for reoccurring contributions of $25 or more for a minimum of six months will be eligible for a $50 matching contribution.
“Our goal is to help Wisconsin families jumpstart their college savings journey,” said Wisconsin Department of Financial Institutions (DFI) Secretary Kathy Blumenfeld. “We hope the $50 incentive is the spark families need to open an Edvest account this holiday season.”
With the holidays coming at a time when the country is experiencing shipping and inventory issues, staffing shortages, and increased prices on goods and services, individuals are presented with the opportunity to reimagine gifting. For those seeking gifts that are easier to give but also make a lasting impact, contributing to an Edvest account is simple and a unique way to show a loved one that you care about their future.
Once an Edvest account is open, family and friends contribute to the account via mail or online at Edvest.com/gift. Gifting around the holidays, birthdays, and other special occasions is a great way to help Wisconsin families reach their college savings goals while taking advantage of unique state tax benefits.
There are many advantages to saving with Edvest, including:
- A Wisconsin state income tax deduction on contributions.**
- Tax-free withdrawals when used for qualified expenses like tuition and fees, room and board, books, computers, and more.
- Funds can be used at accredited universities, colleges, technical colleges, or professional schools nationwide and many abroad.
- Funds can also be used to pay for the cost of apprenticeships, K-12 tuition, and student loan debt repayment up to $10,000 one-time.
- Diverse investment portfolios designed to meet the needs of investors.
“If you’re a parent or grandparent with younger children, it’s tempting to go with the latest toy or video game for a holiday gift,” Blumenfeld said. “The gift of college lasts a lifetime. A small contribution today can lead to significant savings down the road – it’s the perfect holiday gift that will be cherished for a lifetime.”
The end of the year is a great time to review and evaluate college savings goals. It’s also an ideal time to take advantage of the $50 incentive when opening an Edvest account. For more information about Edvest, including live webinars with college savings specialists, available tax benefits, and the impact of student loans, please visit edvest.com or call 1-888-338-3789.