The Importance of Saving for College – National 529 Day

This is a sponsored post on behalf of ScholarShare. I received compensation but all opinions are my own.

I think that we can all agree that college is incredibly important. With technology advancing faster than ever and the job market becoming more and more competitive, it’s almost a must to have a degree of some sort for most of the jobs out there. While a 4-year college isn’t for everyone, saving for your child’s education and letting them have the option to go to college is so important.

The Importance of Saving for College - National 529 Day

May 29th is National 529 Day, celebrating California’s 529 College Savings Plan, which is a state-sponsored, tax-advantaged investment which allows and encourages families to save for their children’s college education. ScholarShare has launched it’s own 529 promotion called “You Start It, We Match It.

When you open a ScholarShare 529 College Savings Account on Friday, May 29, 2015 from 12:01am to 11:59pm PT, ScholarShare will match $50 of the starting deposit. All you have to do to be eligible is to open a new ScholarShare College Savings Plan with at least $50 and enroll in the automatic contribution plan (ACP) for the new account that will automatically contribute at least $25 from you each month. The matching deposit will be made to the eligible ScholarShare account either on or before 12/15/15 & there is a limit of one matching deposit per new ScholarShare account opened for a new beneficiary.

The Importance of Saving for College - National 529 Day

I’ll be honest & say that we haven’t started saving for college. It panics me every time I think about it too! My oldest son is 16 and I am pretty certain that he doesn’t want to go to a 4-year college but wants to go to a technical college instead. But, that doesn’t mean it’s not going to be expensive! I will definitely be taking advantage of this opportunity to not only start a ScholarShare account for all three of my kids but go into it knowing that I will be offered 19 different investment portfolio options, depending on our savings goals and our risk tolerance. Plus, ScholarShare has no annual account fee & no income limit.

Started in 1999, ScholarShare accounts have grown to more than 260,000 with over $6.3 billion in total plan assets! Nearly $300 million has been withdrawn by families to pay for college costs. I also love that ScholarShare offers the “Give a Gift” option so family members can either open an account for a loved one or contribute to their already opened account. That’s a great way for aunts, uncles & grandparents to give a gift for a birthday or the Holiday season.

Find out more by visiting ScholarShare and following them on social media: Facebook | Twitter

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