CST: 01/07/2016 10:12:10   

A Heartfelt Valentine's Day Gift Idea: College Savings for a Brighter Future

140 Days ago

Saving for a Child's Higher Education Is Simple With the ScholarShare 529 Plan

SACRAMENTO, CA--(Marketwired - Feb 11, 2016) - This February, ScholarShare, the California 529 College Savings Plan, reminds parents and grandparents to give the gift of college savings for Valentine's Day. For as little as $25, the cost to open a college savings account with ScholarShare, friends and family members who wish to help alleviate the costs of a loved one's future college education can open a new account or make an eGift contribution to an existing account. Comparatively, according to FOX Business, half of Americans give chocolate or candy at an average cost of $21.47. A college savings plan seems just as sweet.

You can feel confident in your token of love with easy-to-understand reasons to save with the California college savings plan, one of the top-rated 529 college savings plans in the country by Morningstar, an independent investment research firm. Multiple ScholarShare resources are available to help develop clear college savings goals, identify the best college savings plan portfolio, and make continued savings simple. Automatic contribution plans can help keep you on track toward achieving your goals with as little as $15 per pay period using automatic payroll deduction. ScholarShare offers a wide variety of low-cost investment options and provides valuable tax advantages. Anyone with a valid Social Security Number or Taxpayer Identification Number, can open a new account. Funds can be used at any eligible educational institution in the nation, and some abroad, for a variety of qualified higher education expenses, including mandatory fees, books, supplies, computer equipment, or even certain room and board costs.

About the ScholarShare 529 College Savings Plan:

To sign up for an account or for more information about the plan, visit www.scholarshare.com. For information about the ScholarShare Investment Board (SIB), visit www.treasurer.ca.gov/scholarshare. Like ScholarShare on Facebook at www.facebook.com/scholarshare529 and follow us on Twitter at @ScholarShare529.

Named for the section of the IRS code under which they were created, 529 plans offer valuable tax advantages. Contributions are made with money that has already been taxed. Once funds are placed in the account, investment earnings, if any, are not federally or state taxed, if withdrawn to pay for qualified higher education expenses.

The ScholarShare 529 College Savings Plan Twitter and Facebook pages are managed by the State of California.

For more news, please follow the Treasurer on Twitter at @CalTreasurer, and on Facebook at California State Treasurer's Office.