Accounts can be opened for as little as $25
FRANKFORT, Ky. (Dec. 17, 2015) — The Kentucky Education Savings Plan Trust (KESPT) is offering gift certificates for the holidays that can be printed online at kysaves.com.
KESPT, Kentucky’s official 529 college savings plan, is an investment account with tax advantages designed to help families save and pay for college. The plan’s eGifting feature also allows parents to invite family and friends to make secure contributions online with just a few clicks.
“Education is a gift for all seasons,” said David Lawhorn, KESPT manager. “We encourage families to start saving early so that their 529 account has an opportunity to grow tax free to help pay for future college expenses. December is a great time to encourage family members to join in helping invest in the future of a loved one with the eGift option.”
A KESPT account can be opened online with as little as $25. Funds can used at any qualified institution in the nation. Families can also withdraw funds for more than tuition — including required fees, certain room and board costs, as well as books, supplies, and other equipment required for attendance.
Saving for college today may help ensure lower college loan debt in the future. The Project on Student Debt (an initiative of the Institute for College Access & Success) reports that seven in 10 seniors who graduated from public and nonprofit colleges in 2014 had student loan debt, with an average of $28,950 per borrower. That figure suggests students of tomorrow could greatly benefit from the assistance of a college savings plan.
For more information about KESPT, tax advantages and the eGifting feature, visit kysaves.com or call toll-free 1-877-598-7878.