Higher Ed Utah

(Lesley Mitchell, Salt Lake Tribune)– When it comes to saving for your child’s college education, every little bit helps.

Many parents mistakenly believe they must have a lot of money to be able to open — and fund — college savings accounts for their children. Some aren’t even sure where to start.

But you don’t need a lot of money — or financial expertise — to start saving enough that can give your child (or grandchild!) the opportunity to be able to attend college. And one of the highest-rated plans, the Utah Educational Savings Plan, is located right here in Utah and has worked to make it as easy as possible to open an account.

While you can start saving for your child’s post-secondary education any way you wish, doing so through a college savings plan — also called a 529 plan — can offer several advantages. The biggest one, of course, is that withdrawals from college savings plans, if used for qualified higher education expenses, are generally not subject to federal income tax.

In Utah, residents also may be eligible for a state income tax credit for contributions to the state’s UESP plan.

When it comes to saving for your child’s college education, every little bit helps.

Many parents mistakenly believe they must have a lot of money to be able to open — and fund — college savings accounts for their children. Some aren’t even sure where to start.

But you don’t need a lot of money — or financial expertise — to start saving enough that can give your child (or grandchild!) the opportunity to be able to attend college. And one of the highest-rated plans, the Utah Educational Savings Plan, is located right here in Utah and has worked to make it as easy as possible to open an account.

While you can start saving for your child’s post-secondary education any way you wish, doing so through a college savings plan — also called a 529 plan — can offer several advantages. The biggest one, of course, is that withdrawals from college savings plans, if used for qualified higher education expenses, are generally not subject to federal income tax.

In Utah, residents also may be eligible for a state income tax credit for contributions to the state’s UESP plan.

Click here to read the article in its entirety from the Salt Lake Tribune.