529 Plans were authorized in 1996 under Section 529 of the Internal Revenue Service Code. Contributions to 529 plans offer tax advantages and provide different investment options as incentives for individuals to save money now for future higher education costs.
The Utah Educational Savings Plan (UESP) is one of the nation’s top-ranked nonprofit 529 college savings programs. For more information, visit UESP.org.
You can also talk to your bank or credit union about college savings options they offer. It is important to shop around and compare the benefits of each plan. Then, choose the plan that is the best for you and your family.
Dennis Vilorio’s article, “Paying for College: Strategies to Afford Higher Education Today” discusses other options for saving money.
For information about other ways to pay for college, click on the following links: