It’s the holiday season. If loved ones are asking for gift ideas or if you are still searching for a perfect present, how about the gift of higher education? A contribution to a 529 college savings account with Ohio’s 529 Plan, CollegeAdvantage, will grow over time to help a child pay for their education after high school and avoid student loan debt.
After all, 87% of parents would rather get money for their children’s college over any other gift.* And 90% of grandparents would give money towards college savings if the parents asked.**
Ohio’s 529 Plan can help you and other think of this “off-the-shelf” present with 529 Gift Central! The one-stop shopping site shows how a contribution for as little as $25 can grow with all the tax benefits that an Ohio 529 account offers. You or a loved one can make a contribution online, by mailing in a check directly to CollegeAdvantage, or opening an Ohio 529 account as a gift.
An easy-button gift-giving feature with Ohio’s 529 Plan is Ugift. Offered through Ascensus, our recordkeeping partner, Ugift is an innovative way to invite family and friends to save your children’s future college costs when celebrating holidays, birthdays, and special achievements with gift contributions to your CollegeAdvantage Direct 529 account.
Ugift makes it simple to have loved ones add to your child’s Ohio 529 plan without needing to share the actual account number. After logging in to your Ohio Direct 529 Plan, you can set up an Ugift code to send to your loved ones who would like to give the gift of a higher education. This code permits others to make online gift contributions directly to your CollegeAdvantage Direct 529 Plan without your account number. Once you provide the Ugift code, friends and family can visit Ugift529.com to make their electronic contribution securely from their bank account. It’s that easy.
For account owners who have downloaded the READYSAVE 529 app, you can send an Ugift invitation to your family and friends to contribute to your child’s higher education—just in time for the holidays and end-of-year giving. The READYSAVE 529 app makes it easy for you to access your account information, track account growth, and make both one-time and recurring contributions for as little as $25 from the bank account on file from your cell phone. You can download the READYSAVE 529 app now from the Apple and Google Play app stores. Once you install the app, select Ohio’s 529 Plan from the list and log in with the same username and password you use to access your account online.
If a loved one who is an Ohio resident wants to give a gift of higher education to your Ohio 529 account through Ugift, their contribution must be received in good order before 4 p.m. EST Tuesday, Dec. 20, to include it in their 2023 State Of Ohio income tax deduction.
The year-end deadline for account owners to add to your 529 to participate in the State of Ohio income tax deduction of up to $4,000 per beneficiary, per year, is coming up quick! In order to have your contributions included for the 2023 State Of Ohio income tax deduction, all contributions must be received in good order by CollegeAdvantage before 4 p.m. EST Friday, Dec. 29.
To learn more about gifting options with Ohio’s 529 Plan and order holiday and special occasion greeting cards, visit 529 Gift Central.
Happy holidays and thank you for selecting CollegeAdvantage as your savings plan for education after high school.
For more than 34 years, Ohio’s 529 Plan, CollegeAdvantage, has been helping families across the nation save for their children’s education after high school. Ohio’s 529 Plan covers qualified costs at any four-year college or university, two-year community college, trade or vocational school, apprenticeship approved by the U.S. Labor Department, or certificate program nationwide that accepts federal financial aid. Start, add, or give a gift with as little as $25 at CollegeAdvantage.com.
*Source: Fidelity Investments “Gift-Giving Snapshot 2015.”
**Source: Fidelity Investments “Grandparents & College Savings Study, 2014.”
