FRANKFORT, Ky. – Black Friday is known for the retail industry’s frenzy of deals and discounts, but this Black Friday the Kentucky Education Savings Plan Trust (KESPT) is inviting families to invest in the gift of education.
On Nov. 25, KESPT will make a one-time matching contribution of $25 into any new account established online between 12 a.m. and 11:59 p.m. EST. KESPT is Kentucky’s official 529 College Savings Plan.
“There is no gift more rewarding than the gift of education,” said David Lawhorn, KESPT program manager. “Our hope is that this incentive on Black Friday encourages more Kentucky families to open a college savings account for their children.”
Families can open a new KESPT account by visiting kysaves.com and clicking the “Open an Account” button on the homepage. The new account must be opened online to receive the $25 matching contribution, which will be automatically deposited into eligible KESPT accounts in December 2016. Families are asked call (877) 598-7878 if they have questions or need assistance.
Opening a Kentucky 529 plan account takes just 15 minutes and $25 to get started, and offers six investment portfolios including an age-based, balanced and guaranteed option. For families who already have an account, KESPT offers a convenient eGift feature at kysaves.com that allows family and friends to make a contribution for the holidays and provides downloadable gift certificates.
“It’s never too early to prepare your child or grandchild for a successful future and take advantage of the tax-free growth opportunity with KESPT,” added Lawhorn.
Account funds may be withdrawn tax-free and used to cover college expenses like tuition, fees, books, computers and certain housing expenses at any accredited college, university or technical school in the U.S. and some abroad. Black Friday match details and official rules are available at kysaves.com/BlackFriday.
About the Kentucky Education Savings Plan Trust
KESPT is the Commonwealth’s official 529 College Savings Plan, which helps parents, grandparents, family and friends save for a loved one’s future college education with tax advantages.
It is administered by the Kentucky Higher Education Assistance Authority (KHEAA) and managed by TIAA-CREF Tuition Financing, Inc., a leader in managing Section 529 college savings plans. Visit kysaves.com for more information about the Plan or call toll free (877) 598-7878.