Celebrate 529 Day with free ice cream and t-shirts
Alaska 529 is celebrating National 529 Day by giving away FREE t-shirts and treats
from Golden Heart Treats and Wild Spoons in Fairbanks to the first 529 customers.
Submit a 10-second video of your child telling Alaska 529 what they want to do when
they grow up. There is a limit of one t-shirt per child. Alaska 529 will post some
of their favorites on social media throughout the week. Submit your video by visiting https://bit.ly/529dayAlaska.
One-third of Americans have heard of 529 college savings plans but only one in five
know what the plans are for. That’s according to a survey released by the College
Savings Plans Network ahead of 529 Day, recognized annually on May 29th (5/29). The
study identified a connection between 529 awareness and saving for higher education.
The study was done as part of the network’s national 529 awareness campaign.
“Alaska 529 celebrates 529 Day as a way to raise awareness about affordable and portable options Alaskans have to save for higher education,” said Lael Oldmixon, director of Alaska 529. “Saving as little as $40 a month in a 529 account can add up to about $15,000 over 18 years. Money saved in a 529 account grows free from federal and state income tax, and withdrawals remain tax-free when used for qualified education-related expenses at any accredited higher education institution.”
The study found that those who are aware of 529 plans are much more likely to be saving for higher education. The survey indicates that a little knowledge can go a long way and should be a motivating factor this 529 Day. 529 Day is observed by state 529 plans throughout the country as an opportunity to increase awareness of college savings plans.
“Celebrate 529 Day by investing in a child’s future,” said Oldmixon. “Parents, grandparents, aunts and uncles can contribute to a 529 plan as a one-time gift or ongoing contribution. Families that save small amounts earlier, may end up with more than if they had saved larger amounts later.”
For more information about the Alaska 529, visit alaska529plan.com.