Author: Don Stenberg, Nebraska State Treasurer
Happy National 529 College Savings Day. Though I believe every contribution to a NEST 529 College Savings Plan merits a celebration, today is especially exciting as we spread awareness of the benefits of these plans.
Why are NEST 529 College Savings Plans the best college savings option? For starters, they have no minimum deposit requirements, no ongoing contribution requirements, no application fees and no annual account fees. Furthermore, they allow your earnings to grow state and federal tax-deferred. Withdraws are also tax-free when used for qualified higher education expenses, which includes tuition, fees, board, books and other supplies.
Every state celebrates 529 Day in its own unique way. Here in Nebraska, we are celebrating with the Big Dreams $20K Giveaway, a scholarship program that will give four lucky winners a $5,000 contribution each to a NEST 529 College Savings Plan. Today is the last day to enter, so there’s still time. Fill out the entry form here. Continue to check back to our website to learn about other current and upcoming scholarships, contests and bonuses here.
529 Day also offers a great opportunity to review and update your NEST 529 savings plan. Consider increasing your monthly contribution amount to better financially prepare your children for college. Also, think about adopting an easier saving method, such as using payroll direct deposit to make automatic contributions to your NEST 529 account from your paycheck.
Keep following our blog to learn more about NEST 529’s different scholarship offerings and to stay informed about our winners – after all, it could be you.