ScholarShare Makes Saving for College Easy

A classic from the photo album--Chelsea and me on college move-in day.

A classic from the photo album–Chelsea and me on college move-in day.

College–one of the best times of my life. It’s where I became independent, learned how to do laundry and to cook. It’s where I met my husband and learned that I couldn’t take a Scantron test if my life (or grade) depended upon it. My parents paid for me to go to school–their generosity being something I’ll never forget. If it wasn’t for them, I may not have been able to go (or had as much fun) because college is expensive!

My husband was lucky as well–his parents paid for his education and we both knew that when we had kids, we’d want to pay it forward and do the same for our children. But did I mention that college is expensive?! So after the birth of our first child, I gave myself the task of researching 529’s.

For those that don’t know, 529’s are college savings plans. Wikipedia defines it as, “A 529 plan is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary.” Every state offers one, and you don’t need to be a resident of that state to open their 529. However, “there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations for investors who invest in 529 plans in their state of residence.”

It can get confusing; especially when all you want to do is open the best account for your child. Luckily, all you have to do is look at ScholarShare–California’s 529 plan, which is open to any US citizen (or resident alien with a valid Social Security Number or Taxpayer Identification Number). One of the great things about ScholarShare is that you only need $25.00 to open the account, making it easy to start saving from the time your wee one is born. ScholarShare also offers a diverse set of investment options, and provides tax-deferred growth and withdrawals free from state and federal taxes when the funds are used for qualified higher education expenses, such as tuition and fees, books or even certain room and board costs. (The latter of which can be some of the biggest college fees!)

529 Day Image

This month, ScholarShare gets even better, because on May 29th (get it–529 day), ScholarShare is launching their 529 Day matching promotion, “You Start It, We Match It.” You can open a ScholarShare 529 College Savings Account on Friday, May 29, 2015 from 12:01am to 11:59pm PT and ScholarShare will match $50 of the initial deposit.

How much more incentive does one need?

I pored through 529 books, learning about each of the state’s programs (not an easy feat considering finance is not my forte and I it was hard for me to keep my eyes open since I was up, nursing through the night). Make it easy on yourself and turn to ScholarShare, knowing that your child’s college tuition will be in good hands.

For more information, please visit the ScholarShare website.

The fine print:

To be eligible for ScholarShare’s matching promotion, families will need to:

▪ Open a new ScholarShare College Savings Plan with an initial deposit of at least $50 – to be contributed and invested at the time the new account is opened.
▪ Enroll in the automatic contribution plan (ACP) for the new account with at least a $25 contribution per month.
▪ The matching deposit of $50 will be made to the eligible ScholarShare 529 account on or before 11:59pm PT on December 15, 2015. There is a limit of one matching deposit per new ScholarShare account opened for a new beneficiary.

This is a sponsored post on behalf of ScholarShare. Breezy Mama received compensation but all opinions are our own.

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