Trying to find a unique and useful gift to get a child? Maybe your nephew, your best friends daughter, or your grandchild? Why not invest in their future with Gift of College.com? What better way to tell a child that you care enough to purchase a piece of their future. With college cost on the rise I’m sure their parents would love a gift such as this.
Gift of College.com was created with the hopes of making it easier to contribute to a 529 fund for a child. If you are not sure what a 529 plan is here is a little background (source: savingforcollege.com)
529 plan history
A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. It is named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1996.
State plans are OK for out of state colleges
529 Plans can be used to meet costs of qualified colleges nationwide. In most plans, your choice of school is not affected by the state your 529 savings plan is from.
Registering your 529 plan is as easy as 3 simple steps.
1. Register your profile
2. Link your 529 plan
3. Share your profile with friends and family so they can donate.
Another nifty feature at Gift of College.com is their search tool per state. Just pop in the state and you will be taken to page to give you more information on 529 plans in your selected state.
Another feature, which I have to say is quite scary when you are thinking about the cost of college, is their cost calculator. Just enter the age of your child and a calculator will tell you how much college is going to cost and the monthly contribution you will need to cover that cost.
Currently my grandfather purchases savings bonds for my children for each birthday and each Christmas. I wish I had something like this set up for each of them so he could contribute to their college future instead. As a mother of three I can’t even fathom how I’m going to pay for the three of them to attend college. It would be great to have something such as this to make contributing easy for the rest of my family.
Don’t wait until it is too late. Starting thinking about your child’s future today and register with Gift of College.com. It is one of the best things you can do for your child.