By Cassandra Sherrill
Senior Manager of the Path2College 529 Plan
October 12, 2015
The cost of higher education is steadily rising. As your little pumpkin grows so does their tuition price tag. But never fear, 529 college savings plans are here!
October is the month of fall leaves, jack-o-lanterns and warm coffee (pumpkin spice flavored of course)! But why can’t it be a month of college savings as well? That doctors or nurses costume could become a more permanent and tangible dream with a 529 college savings plan.
This is no trick! A 529 college savings plan is the treat that can help offset the price of college for your loved one. Think of it like this, a penny saved today is a penny less they may have to borrow tomorrow. And this 529 treat gets sweater, the money you save can be used towards higher education at virtually any school in the nation. So don’t faint if your little monster, princess or astronaut wants to attend an Ivy League university or move to a school on the other side of the country- their 529 plan you start today can follow them!
Saving for college is made easy with a 529 account too. With as little as $25, even less in some states, you can begin to cut down that tuition price tag. Let’s say in one week you consume five lattes or Frappuccino’s that would round out to about $25. Why not skip that cup of overpriced pumpkin spice coffee this fall and deposit it into your little pumpkins college savings plan. With an Automatic Contribution Plan or with Payroll Deduction, you can deposit funds into their account automatically. You know the common saying “out of sight, out of mind” and with these two popular options, next time when you check their 529 account, you’ll be pleasantly spooked by how much you saved.
So before you head to the fall festivals or drop by the local coffee shop for a warm cup of Joe on a cool fall day, think about your loved one. I challenge you to skip the lattes this month and invest in your little pumpkin’s future. And while your setting it up, why not start saving automatically!
About the Author
Cassandra Sherrill is the Senior Manager of the Path2College 529 Plan –Georgia’s official college savings plan. She has been with the plan since 2012. Additionally, she is active within the CSPN community and is a part of the Membership Engagement Committee.