By Devon Copeland, Senior Communications Associate, Virginia529
December 5, 2023
The holiday season is here, and amid the frenzy of gift shopping, one item is growing in popularity on families’ wish lists as parents seek out unique and impactful presents for their children — the gift of education. According to the College Savings Foundation, 46 percent of parents prefer 529 gift contributions over traditional presents.
Here are three reasons why investing in a 529 account for your loved one’s future is THE holiday must-have.
As families navigate the challenges of rising costs and inflation, the desire to give memorable experiences and events are gaining popularity on wish lists. Opening a 529 account, or contributing to an existing one, provides the students in your life with a unique experience that extends far beyond the holiday season.
Recognizing that a child’s future may still be broad, 529 accounts offer flexibility whether your loved one pursues traditional college education, trade schools, or apprenticeships. The funds can be used for a variety of qualified programs and expenses from tuition to room and board costs, computers, books, supplies, and more.
Making a gift contribution to a 529 account is a straightforward process. Several 529 plans provide a variety of convenient methods for family and friends to use when contributing to (or helping start) an education savings account. For example. Virginia529’s Gift Center allows individuals to contribute online, by gift card, or by purchasing and mailing a gift certificate. To see what gifting options your home state 529 program offers, visit CSPN’s Find My State’s Plan tool.
This holiday season, consider embracing the enduring gift of education. A 529 account not only provides a head start on your child’s post-high school journey, but also fosters a culture of meaningful and purposeful gift-giving. As you celebrate with family and friends, consider the lasting impact of investing in a loved one’s future with a 529 account.
About the Author
Devon Copeland is the senior communications associate at Virginia529. Virginia529 makes education more accessible and affordable for families and individuals. With more than $86.5 billion in assets under management and 3 million accounts as of October 31, 2023. Virginia529 is the largest 529 plan in the nation. For more information on Virginia529’s college savings options, visit Virginia529.com or call 1-888-567-0540 to obtain program materials.