EDVEST - Wisconsin's 529 College Savings Program
Planning & Saving for College 1-888-338-3789 Website: WWW.EDVEST.COM
Discover everything you need to know about saving for college, what the Edvest College Savings Plan can do to help, and how to help maximize your savings even on a modest budget.
Many parents and families today worry their child or grandchild will begin their adult lives burdened with crippling school loan debt. But it doesn’t have to be that way. Whether your son or daughter is getting ready for pre-school or high school, the time to figure out your options and make a plan is now. Find out how Edvest College Savings Plan can be a part of your college savings strategy.
10 Reasons to Save with Edvest
Want to know all the great reasons why you should choose the Edvest College Savings Plan? This quick list will give you the key benefits at a glance.
The cost of higher education is only going up, but that shouldn’t get you down. Saving for college doesn’t need to be a burden. With the Edvest College Savings Plan, there’s no big upfront investment and getting started takes about as long as grabbing a cup of coffee.
1. Easy & Convenient
With Edvest you can easily open an account in just 15 minutes and easily manage it online or by mail. By setting up automatic contributions from your bank account or by payroll deduction (if supported by your employer), making regular contributions is hassle free.
2. Savings Grow More Due to Tax Advantages
Wisconsin residents receive unique tax advantages and your earnings, if any, are free from federal income tax when used for qualified expenses. In the meantime, your contributions are reinvested automatically so your account can grow more than a taxable account over the same period.
3. Use at Schools Anywhere
Funds can be used at any accredited university, college, technical college, or professional school nationwide — and many abroad. Basically any institution with a student aid program qualifies.
4. Use for More Than Just Tuition
Edvest can be used to pay for tuition, certain room and board costs, computers and related technology expenses, as well as fees, books, supplies, and other equipment.
5. Lower Impact on Financial Aid than Other Savings Options
Many parents worry that a 529 Savings Account can adversely affect eligibility for financial aid. So long as the parent is the account owner, funds are typically treated as belonging to the parent, not the child, minimizing the impact on financial aid.*
Open an account with as little as $25 per investment option, or $15 dollars per pay period using automatic payroll deduction. Since there are no application, sales, or maintenance fees, it’s affordable even for those on a modest budget.
7. Everyone Can Help
You don’t have to do it all on your own! Grandparents as well as other family and friends can make gifts to your account for maximum growth potential.
8. Unused Funds Can Be Used for Other Eligible Members of Your Family
If it turns out your child or grandchild doesn’t need all the money or their education goals change, you can designate a new beneficiary penalty-free so long as they’re an eligible member of your family.
9. Investment Flexibility
Edvest provides a variety of professionally managed investment options to choose from including age-based options that automatically change as the beneficiary grows up. Alternatively you can tailor your portfolio with multi-fund, single-fund, and stable principal options to match your risk tolerance, timeline, and investment preferences.
10. Estate Planning Benefits
When you or anyone else makes a contribution, it may qualify for an annual gift tax exclusion of $15,000 per year for single filers and $30,000 a year for couples. As a 529 Plan, Edvest is the only investment that allows you to give up to 5 years’ worth of gifts at one time — for a maximum of $75,000 for a single filer and $150,000 for couples.
*The treatment of investments in a 529 savings plan varies by school. Assets are typically treated as the account holder’s and not the student’s. (Student assets are generally assessed at 20% whereas parental assets are generally assessed at 5.6%.) Any investments, including those in 529 accounts, may affect the student's eligibility to get financial aid based on need. You should check with the schools you are considering regarding this issue.
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