On May 29, Treasurer Ron Estes will join the College Savings Plans Network (CSPN) and State Treasurers around the nation in celebrating “529 College Savings Day” to increase awareness among Kansas families about the importance of saving for their children’s higher education expenses. Learning Quest, the Kansas 529 Education Savings Plan, will also be holding three drawings this year for three $1,000 Learning Quest 529 Education Savings Plan accounts for those who like the plan on Facebook and register. Drawings will be held for entries received by June 30, September 30, and December 31, 2013.
“Studies have shown that higher education is one of the best investments a person can make in a lifetime,” said Treasurer Estes. “I encourage Kansas families to take some time on 529 College Savings Day to discuss their college savings goals as a family and learn how a 529 college savings plan, such as Learning Quest, Learning Quest Advisor, or the Schwab 529, can help make those goals a reality. The end of the school year is a great time to evaluate your student’s performance in the class room and your investment in their future.”
A 529 plan is a tax-advantaged investment plan designed to encourage saving for the future higher education expenses of a designated beneficiary. Withdrawals from 529 plans for qualified education expenses are free from federal income tax, and Kansans receive a tax deduction when they contribute to Learning Quest, Learning Quest Advisor, the Schwab 529 or any other 529 plan.
“American families of all income levels have found 529 plans to be one of the most compelling ways to plan for the future and reduce their reliance on student loan debt,” said Hon. Michael Fitzgerald, Iowa State Treasurer and Chair of CSPN. “Nationally, total assets in 529 plans total more than $190 billion—an increase of 25.86% in one year—with an average account balance of over $17,000. Thousands of Americans have made a commitment to saving for college by starting a 529 plan, and on 529 Day, I encourage Kansas residents to consider joining them” said Treasurer Estes.
To learn more about Learning Quest and Learning Quest Advisor and enroll today, visit www.Learningquest.com. Information on the Schwab 529 is available and www.schwab.com/529. Resources and tools that families can use to compare 529 plans and make informed decisions about saving for college are also available at CSPN’s website, www.CollegeSavings.org.