Higher Ed Utah

(Salt Lake City)– In perfect timing with September as National College Savings Month, the first person to open a college savings account with the Utah Educational Savings Plan (UESP), Utah’s official nonprofit 529 college savings program, is seeing his years of saving come to fruition as his granddaughter starts college this fall.

When Salt Lake City resident Duane Hill’s late wife, Corrine, heard about the just-launched Utah Educational Savings Plan in 1996, she said, “Duane, we should get something started for Marley and Kira.”

“It was the most natural thing in the world,” Duane says about opening college savings accounts for their two granddaughters with UESP. Those accounts turned out to be UESP’s first accounts. “We’ve been there since the very beginning. Since the State of Utah gives a state tax break for some of your contributions to UESP, we’ve put in the amount of money that would maximize our tax benefits every year.”

Fifteen years later, Duane and Corrine’s eldest granddaughter, Marley Rose Hill-Filben, will begin to use the UESP account.

“I would be struggling with the college experience without the savings,” says Marley, who toured various colleges with her mother this past year, including schools in Montana, Arizona and California. Even as a scholarship recipient with plans to work part-time, Marley says learning how much college costs was an eye opener. “I know now how important it is to have money for school that I can’t spend on anything else. It’s just so smart to start a college savings plan. No matter how much money goes into it, it all helps.”

Marley decided to attend the University of Utah, where she says she plans to look into the environmental studies program. “What my grandparents have done for me makes it a lot easier to pay for college and not worry about getting so many loans,” says Marley. “It takes a weight off my shoulders. I’m grateful that they have done this.”

Marley’s grandfather says he is pleased that by saving with UESP, he is able to help his granddaughter obtain a higher education. “My wife and I benefitted from our higher education degrees, and I certainly hope the same for Marley and for her sister,” says Duane. “What can I say beyond that?”

Lynne Ward, executive director of the Utah Educational Savings Plan, echoes Duane’s sentiments. “We are thrilled that Marley—our very first UESP account beneficiary—is heading to college,” she says. “It’s a milestone not only for Marley and her family but also for UESP. Anytime a child is able to attend college because someone gave them the gift of a college savings fund, it’s a cause for celebration.”

For more information about the Utah Educational Savings Plan, visit uesp.org, call UESP at 800.418.2551 or e-mail info@uesp.org.

About the Utah Educational Savings Plan

UESP, Utah’s official nonprofit 529 plan, is consistently ranked among the nation’s top 529 plans and is highly recommended by Money magazine, CBSMoneyWatch.com and financial expert Clark Howard. These high rankings can be attributed to UESP’s industry innovations, such as an FDIC-insured savings account, customized allocation investment options and efforts to be the industry’s low-cost leader.

UESP requires no minimum deposits or balances to open an account, so families can save a little or a lot according to their own schedules. With a user-friendly website, uesp.org, UESP makes it easy to open, manage and contribute to an account online. Earnings on UESP accounts grow tax deferred and are federal and Utah state tax free when used for qualified higher education expenses such as tuition and fees, certain room and board costs, and required books and supplies at any eligible educational institution that participates in federal financial aid programs for students, not just institutions in Utah.

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Read the Program Description for more information and consider all risks, objectives, charges and expenses before investing. Call 800.418.2551 for a copy of the Program Description or visit uesp.org.

Investments in UESP are not guaranteed by UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority (UHEAA) or any other state or federal agency. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-insured savings account. Please read the Program Description to learn about the FDIC-insured savings account. Your investment could lose value.

Non-Utah taxpayers and residents: You should determine whether the state in which you or your beneficiary pay taxes or live offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP. You should consider such state tax treatment and benefits, if any, before investing in UESP.