Get The Most Out Of Your College Savings Plan.
Busy life? Set up your account to build itself.
Building an education fund is a lot like a retirement plan — automatic deposits work best. Even if you’re starting small, the snowball effect of compounded growth can make a big difference over time. It's easy to securely link your bank account
to make direct deposits to Ohio's 529 Plan. Over half of our savers use the automatic feature, and you can set it as low as $25 per deposit at whatever time interval works for you.
See how automatic deposits can help you build a bigger education fund in this 29-second video.
Have U shared your Ugift code with family and friends?
The simplest way for family and friends to help grow your account is through Ugift. Every account has a unique Ugift code you can freely and safely share. For other ways to get your people involved, visit 529 Gift Central.
Ugift is a great way for people to give the gift of education online. We’ll show you how in 29 seconds.
Here’s a to-do list for account owners.
This is for anyone who owns a 529 account — usually parents and grandparents — for the benefit of a student.
Review Automatic Deposit Status
Revisit Goals
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Need my balance: Log in
Check Investments
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Make investment changes Log in
(then click on Individual Account Number > Change Investment Options)
Preferences & Documents
Account Changes
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Update or check beneficiary information: Log in
(then click Profile & Documents > Beneficiary)
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Move some or all of the money in an account to a different family member: Contact Us
Account Owner Details
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Change name, address, phone, email: Log in
(then click Profile & Documents > Edit Identification, Address & Phone)
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Change account owner name: Go to Forms
(then click on Account Owner Change Form, as there is no online option for this)
Want to see your other investment options?
Here’s what you should think about at each key stage.
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Open a 529 account for a child or grandchild using your own Social Security number as the beneficiary — you can add the baby’s name/Social Security number later.
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Suggest 529 contributions along with your shower gifts by sharing your unique Ugift code.
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Set up automatic savings with the Automatic Investment Plan (AIP). Even small deposits — as little as $25 at a time — can make a big difference over time.
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Share your Ugift code so family and friends can easily add to your account.
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If your baby’s Social Security number has been issued, you can now change the beneficiary.
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The vast majority of grandparents would give money toward college savings instead of other stuff if parents asked.
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Use “money moments” in the year — tax refunds, bonuses, and gifting events like birthdays and holidays — to pump up your education fund.
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Saving small amounts more often, as little as $25 at a time, can have a big impact.
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Preschool graduation is the perfect time to share your Ugift code with family and friends.
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Did school attendance cut your childcare costs? See how shifting some of that money into your education fund can make a huge difference.
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Birthdays, accomplishments, firsts, graduations — make sure family and friends have your Ugift code so they can help build your child’s bright future.
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Use “money moments” in the year — tax refunds, bonuses, and gifting events like birthdays and holidays — to pump up your education fund.
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It’s not too late! A significant number of budget-crunched families get more serious about their education fund during middle school. “Money moments” in the year, like tax refunds and bonuses, can really help.
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Have some savings earmarked for education? Consolidate the accounts into a 529 Plan for the tax-free growth potential and annual Ohio tax deduction.
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Share your Ugift code for birthdays, holidays, special occasions, and of course, middle school graduation.
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By now, your future education expenses are becoming more clear. Use our tools and calculators to modify your saving strategy based on how much of the total cost you want to save.
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If you're not using a Ready-Made Plan that adjusts risk as school nears, this is a good time to review your investment(s) and make sure you still have the same risk tolerance.
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As graduation nears, it’s a good time to see how much school you can cover and, if possible, make adjustments to your contributions.
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Share your Ugift code for birthdays, holidays, special occasions, and of course, high school graduation.
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Plan ahead to pay tuition well before due dates to avoid school-imposed late fees or being bumped from classes for non-payment.
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Get the lay of the land for making withdrawals and paying tuition. Do you want to pay an account withdrawal directly to the school, to your bank account, or to your beneficiary? How does the school accept payments?
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Make sure your withdrawals match qualified higher education expenses.
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Be sure your withdrawals take place in the same year that you pay for college expenses.
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Keep detailed records of higher education expenses and corresponding withdrawals for tax purposes.
Option 1: Keep the account open for future “upskilling” — future grad school or additional college or certificate programs, or really any qualified program that an adult might need in the future to advance a career.
Option 2: Keep the account open for future grandchildren, as you can easily change beneficiaries later.
Option 3: Transfer the funds to a 529 Plan for another family member.
Option 4: Use the funds to pay off up to $10,000 of qualified student loans for a sibling of the beneficiary.
Option 5: You can choose to withdraw funds for non-qualified expenses, but while your original contributions aren’t penalized, you will have to pay taxes and a penalty on the earnings.
Option 6: If you're truly finished with your 529 account, it might be time to close it out.
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