MADISON, Wis. (November 14, 2022) – The holiday season is in full swing, and families across Wisconsin are thinking about what gifts to get their children, grandchildren, and other little ones in their lives. With traditional gift prices continuing to climb, many will be rethinking their gifting strategy this year.
For those seeking gifts that stretch their dollar and make a lasting impact, Edvest is announcing a $50 bonus on new accounts opened between November 14 and December 9, 2022. It’s easy to start saving for higher education and receive the bonus. Simply follow these four steps:
- Open an account between November 14 and December 9, 2022, 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!*
“Giving a 529 college savings plan contribution as a gift is an investment in a loved one’s future that has the potential to grow over time and help offset education costs,” said Wisconsin Department of Financial Institutions Secretary-designee Cheryll Olson-Collins. “It’s a holiday gift that can lead to significant savings down the road and helps families get in the habit of saving for higher education today. The gift of saving for higher education will truly make a difference and be cherished for a lifetime.”
This offer aims to motivate parents and grandparents to start saving for their loved one’s higher education this holiday season, and it also encourages families to develop an annual giving strategy that can include gifting to an Edvest account for birthdays, graduations, and other special occasions year-round.
Edvest is Wisconsin’s direct-sold 529 College Savings Plan designed to help families save for higher education expenses. Account owners can choose from 24 investment portfolios, access easy-to-use savings tools, and take advantage of in-state tax benefits for Wisconsin taxpayers.
Edvest is a tax-advantaged investment, meaning contributions to an account may qualify for a state income tax deduction of up to $3,560 per beneficiary, per year. Limitations apply.1 In addition, earnings are tax-free if used for qualified education expenses like tuition and fees, books, laptops, and more. Funds can be used at any accredited public or private university, college, technical college, community college, or professional school nationwide and many schools abroad. Funds can also be used for apprenticeships registered and certified with the Secretary of Labor under the National Apprenticeship Act.2 The plan has no sales charges, enrollment fees, or annual account maintenance fees. Edvest is the sixth lowest-cost 529 college savings plan in the nation!3
Edvest has earned a best-in-class rating from Morningstar, an independent investment research and management firm, for nine consecutive years. In 2022, the independent analysts at Morningstar carefully reviewed the merits of fifty-four 529 college savings plans and awarded Edvest a Silver Rating for the first time ever! According to the analyst report, “Edvest is an excellent choice for Wisconsinites and nonresidents, offering a well-designed target enrollment series at an attractive price. The plan is now one of the cheapest 529 savings plans after recent fee cuts, and its Morningstar Analyst Rating has been upgraded to Silver.”4