By Devon Copeland, Senior Communications Associate, Virginia529

May 7, 2024

As we enter May, it’s not just any ordinary month – it’s a time dedicated to celebrating mothers and all they do for their families. Mother’s Day is May 12th, offering the perfect opportunity to reflect on mothers’ incredible role in our lives. And what better way to honor the spirit of motherhood than by empowering parents to secure their children’s educational future? This month, let’s harness the power of MOTHER –with six steps to boost your child’s education savings through a 529 account!

Maximize Contributions: Families who have delayed saving typically put it off because they either don’t believe they have the money to start, or they can’t decide on the best way to save. But every little bit counts when it comes to saving for your loved one’s education. Automating your contributions can make saving for future education costs easier, whether setting up withdrawals from your paycheck or simply linking your bank account. Having a steady stream of automatic contributions, even of just $20 or $50, can be powerful.

Optimize Investments: Investing can feel intimidating, but it doesn’t have to be. Take the time to explore your investment options within your 529 account and choose investments that align with your goals and risk tolerance. Consider seeking advice from a financial advisor to help you make informed decisions. Some plans, like Virginia529, offer tools to help you familiarize yourself with available investment options.

Tell Others: Building your child’s education fund can be a community effort. Consider spreading the word about your 529 account and inviting your family and friends to join the savings journey. By sharing your 529 plan with others, you not only open the door for additional contributions but also foster a sense of support and collaboration in securing your child’s future education.

Harness Tax Benefits: One of the biggest perks of a 529 account is its tax advantages. In addition to funds in 529 accounts growing free from state and federal taxes, some states offer additional tax benefits to contributing. For example, Virginia residents may deduct contributions to 529 accounts – up to $4,000 per account per year from their Virginia state individual income taxes.

Explore Options: Different states offer their own 529 plans, each with its own unique features and benefits. Take the time to research and compare plans from different states to find the one that best suits your needs. You may even consider opening multiple 529 accounts to take advantage of different benefits.

Review Regularly: Life is unpredictable, and your savings strategy should be flexible enough to adapt to whatever comes your way. Make it a habit to review your 529 account regularly to ensure it’s still aligned with your goals and circumstances. Adjust your contributions and investment allocations as needed to stay on track and keep your savings growing.

With these MOTHER-inspired tips in your back pocket, you’ll be well-equipped to confidently tackle the challenge of saving for your child’s education. A 529 account offers a powerful tool to help you achieve your savings goals while enjoying valuable tax benefits along the way. Start planning today to give your child the gift of a bright and promising future.

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 $102.8 billion in assets under management and 3.1 million accounts as of March 31, 2024. Virginia529 is the largest 529 plan in the nation. For more information on Virginia529’s college savings options, visit or call 1-888-567-0540 to obtain program materials.