As moms, we all can relate to family members bombarding us about what to get our kids for the holidays. This year, give them an answer you’ll both love. Instead of another toy, ask them to give the gift of higher education by contributing to your child’s 529 College Savings Plan.
Are you a parent who has already started a 529 plan? Kudos to you! Let family and friends know how they can contribute. Learning Quest offers Ugift®, a free service. Here’s how it works:
- Account owners — Share the Ugift® code and others can easily contribute to your child’s college savings account whenever they want. Their contributions are specifically coded to your Learning Quest account, so you don’t have any paperwork or anything extra to do.
- Gift givers — Grandparents, aunts, uncles, godparents or anyone can make gift contributions online through electronic bank transfer or by check. Simply enter the Ugift® code. You don’t have to join, register or pay a fee.
Don’t have a 529 account for your child? No worries. You can learn more and open one no matter what your child’s age.
What’s a 529?
It’s an education savings plan to set aside funds for future college expenses at any accredited school across the country. A big advantage to 529s – you don’t pay tax on the growth of the account and qualified withdrawals are also tax-free when it comes time to use the funds to pay for tuition, text books, laptops and more. That means more money in your pocket.
As with any investment, withdrawal value may be more or less than your original investment.
This information is for educational purposes only and is not intended as tax advice.
IRS Circular 230 Disclosure: This communication was written in connection with the promotion or marketing, to the extent permitted by applicable law, of the transaction(s) or matter(s) addressed herein by persons unaffiliated with American Century Companies, Inc. American Century Companies, Inc. and its affiliates do not provide tax advice. Accordingly, to the extent this communication contains any discussion of tax matters, such communication is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties. Any recipient of this communication should seek advice from an independent tax advisor based on the recipient’s particular circumstances.
The availability of tax or other state benefits (such as financial aid, scholarship funds and protection from creditors) may be conditioned on meeting certain requirements, such as residency, purpose for or timing of distributions, or other factors.
Before investing, carefully consider the plan’s investment objectives, risks, charges and expenses. This information and more about the plan can be found in the Learning Quest Handbook, available by contacting American Century Investment Services, Inc., Distributor, at 1-877-345-8837, and should be read carefully before investing. If you are not a Kansas taxpayer, consider before investing whether your or the beneficiary’s home state offers a 529 plan that provides its taxpayers with state tax and other benefits not available through this plan.
American Century Investment Services, Inc., Distributor
Notice: Accounts established under Learning Quest and their earnings are neither insured nor guaranteed by the state of Kansas, the Kansas State Treasurer or American Century.
Administered by Kansas State Treasurer Jake LaTurner
Managed by American Century Investment Management, Inc.
The earnings portion of non-qualified withdrawals is subject to federal and state income taxes and a 10% federal penalty.