College Savings Plans Network Celebrates 529 Day
22 Mayo 2024 - 9:40AM
To commemorate national 529 Day, college savings programs across
the country are using unique ways to raise awareness about the
importance of saving for college. Leading these initiatives are
members of the College Savings Plans Network (CSPN), a
network of the National Association of State
Treasurers (NAST), the leading objective source of information
about Section 529 college savings plans
and prepaid tuition plans.
Over the last 30 years, CSPN has tracked data which shows that
American families are taking advantage of these tax-advantaged
savings accounts. As of December 31, 2023, national savings in 529
savings plans surpassed $471.1 billion. A recent compilation of
national data can be found here. The encouraging upward trend is a
promising step towards combatting student debt, which currently
amounts to almost $1.74 trillion in the United States.
“May 29 - or 529 Day - comes at a time of year when families are
thinking about education, with graduations of all kinds and
decision dates for colleges,” said Mary Morris, Chair of CSPN
and CEO of Virginia 529, “so it is a good time to remind
families to start saving in a 529 account or contribute to an
existing account.”
As part of the National Association of State Treasurers
Foundation’s (NASTF) partnership with Enrich, a learning module has
been released on the Enrich digital financial wellness platform to
educate users on the benefits of investing in a college savings
plan. Below is a sampling of the efforts happening nationally
to encourage more Americans to save for education needs in a 529
plan in celebration of 529 Day:
- Alabama:
Alabama’s CollegeCounts 529 Plan will once again be
holding our 529 Baby Day Giveaway! This is our 10th year of
awarding 29 $529 contributions to newborn babies in Alabama that
were born between 5/29/2023 and 5/29/2024.
- Alaska:
Alaska 529 will hold a social media contest on Facebook and
Instagram, asking participants to ‘spell out’ 529 in everyday
objects, post a photo of their 5-2-9 to either Facebook or
Instagram and tag us! We will randomly draw one Alaska 529 $1,529
scholarship winner on Facebook Live. We will also be promoting the
T. Rowe Price ‘529 Day and Saving for College’ Webinar.
- California:
California’s ScholarShare 529 is celebrating National 529
College Savings Day with a $50 Match for families who open a new
ScholarShare 529 account between May 20 and May 31, 2024, with $50
or more and set up recurring contributions of $50 or more per month
for six consecutive months. This campaign is being supported
through media relations, online advertising, direct mail,
educational webinars, and social media. Complete Offer Terms &
Conditions are available
at www.scholarshare529.com/529offer24.
- Capital
Group: The Capital Group will host a various internal
events to build awareness of 529s and the new rollover to Roth
provision; Associates to wear their college gear on May 29th; 529
themed food items and events to celebrate 529 day; Hosting Webinar
(for CG associates) on the importance of 529s, which will be
facilitated by one of our wholesaler; Publishing a new 529 article
on our advisor website to help advisors understand how selling 529s
can benefit them and help build their practice.
- Colorado:
Colorado’s CollegeInvest Smart Choice 529 Plan provider,
FirstBank, is celebrating 529 Day by giving away $2,500 for
College for Two Winners! FirstBank will randomly select one
winner from Colorado and one winner from Arizona to receive a Grand
Prize of $2,500. To enter, eligible participants must deposit $1.00
or more into either a new or existing Smart Choice 529 account
between May 1 – May 31, 2024. A winner will be randomly selected
from all eligible entries in June.
Visit efirstbank.com/csapromo for more details and
Official Rules.
- Delaware:
Delaware will help promote Fidelity’s National 529 Day webinar
on the latest 529 savings strategies for your child’s education.
May 29th will also be recognized by Delaware’s General Assembly
through a proclamation as “DE529 Education Savings” Day. DE529 will
be sharing content on savings through social media during the month
of May to help building awareness around 529 plans and DE529 “First
State, First Steps” Incentive program.
- Fidelity
Investments: Fidelity Investments is hosting
a special webinar to celebrate National 529 Day. The latest
529 savings strategies for your child’s education. Get the latest
strategies to help you reach your savings goals.
- Florida:
Florida residents that enroll in a new Florida 529
Savings Plan by June 23, 2024, will receive a $50 account
contribution to kick-start their savings journey. Learn more today
at myfloridaprepaid.com.
- Gift of
College: Gift of College is offering special employer
and employee 529 college savings incentives during the month
of May.
- Iowa: College
Savings Iowa is celebrating with a $1,000 College Savings
Iowa account contribution giveaway to a new or existing
account. Any Iowa resident can visit Iowa529Contest.com to enter by
May 31, 2024. Additionally, the Treasurer’s Office will post
information regarding benefits of 529 accounts and information
about College Savings Iowa on Treasurer Smith’s social media
platforms throughout May and is requesting Iowa’s Governor issue a
proclamation declaring May 29 as 529 Day in Iowa.
- Kansas:
The Kansas Learning Quest 529 is celebrating 5/29 Day by
contributing $50 to any Kansas resident (or a resident of another
state who opens an account for a Kansas beneficiary) who opens a
new Learning Quest account between May 29 and June 5. We will be
promoting the giveaway through both paid and organic social
media.
- Louisiana:
The Louisiana Office of Student Financial Assistance
(LOSFA) will celebrate 529 Day with a $529 giveaway.
Louisiana residents who make a minimum deposit of $29 into a
Louisiana 529 Saving Plan account between May 1 and May 29 will be
entered into a drawing to receive $529 deposited into their START,
START K12, or LA ABLE account. New account holders must open an
account and deposit $29 between May 1 and May 29 to be eligible for
the drawing.
- Maine: To
celebrate 529 day, the Finance Authority of Maine will be
hosting one-on-one appointments (in-person or virtually) for anyone
looking for assistance with a NextGen 529 account. If a person
opens an account that day, FAME will add a $25 grant to the
account. FAME also has a spring media campaign during the
month of May highlighting customer’s saving stories.
- Maryland:
Maryland residents may be eligible to receive up to $500 in a
Maryland College Investment Plan Account through the Save4College
State Contribution Program. It’s easy to apply with the online
application. Be sure to open a Maryland College Investment Plan
Account and submit your application by 11:59 p.m. on May 31st.
-
Massachusetts: The Massachusetts Educational Financing
Authority (MEFA) will celebrate “529 Day” throughout the month
of May with expanded savings content across MEFA’s communications
platforms. MEFA will host a College Savings Webinar for
families on May 28th at 12pm, a College Savings Webinar for
Counselors on May 29th at 8:30am, and an Attainable Savings Plan
webinar on Thursday, May 23 at 12:00pm and publish a new podcast
episode published on 5/28 with guest Cory Latham from Fidelity
Investments to on the topic of Investing 101. MEFA will also host a
day-long Q&A in Instagram Stories about saving for college,
529s, and BabySteps on May 29th, encouraging followers to engage on
Instagram and answering them in real time.
- Michigan:
The Michigan Education Trust will be offering a $50
Bonus for Pay-As-You-Go contracts that set up new recurring
ACH payments through MET of at least $100/month for June-September.
Bonus is available for new contracts as well as existing contracts.
New contracts opened May 1-31 can also use coupon code 529DAY to
waive the $25 online enrollment fee. If you open a Michigan
Education Savings Plan account between 5/22/24 and 5/31/24 and
get up to a $100 bonus. See website for Terms and Conditions.
- Nebraska:
The Nebraska 529 mascot, Nester, and the NEST Team will
be at the Lincoln Saltdogs baseball game on 5/29 promoting
NEST 529. We will also be kicking off the promotion of our
Community Events scheduled for June and July. Along with our 529
Day Proclamation, we are sending emails and social media
communications to celebrate National 5/29 Day.
- Nevada:
The Nevada Treasury is partnering with Las Vegas
Discovery Children’s Museum to provide a day of fun and
learning for the family. We are offering free admission for the
first 100 kids attending that day, and there will be 5 stations
throughout the museum for families to visit and talk with NV
Treasury staff and 529 providers. Kids will fill their piggy bank
passports and earn prizes while learning about the importance of
college and saving for the future. Museum attendees can draw a
picture of what they want to be when they grow up and be entered
into a raffle to win a $529 contribution into a Future Path 529
account!
- New Jersey:
Celebrate 529 Day with New Jersey’s NJBEST and Franklin
Templeton 529 College Savings Plans! During the month of May, the
New Jersey 529 plans will have digital advertisements across NJ,
informative articles, social media posts, and host broker dealer
webinars to promote the importance of saving for education and
benefits of using a 529. For NJ residents, we will highlight
additional state benefits available year-round including the tax
deduction, matching grant program and scholarship opportunity. For
eligibility requirements and more information,
visit: njbest.com/benefits
- New Mexico:
In celebration of 529 Day, the New Mexico The Education
Plan® has created educational content that will be shared on social
media and The Education Plan website, including a 529 Day video
“Top Questions About 529 Plans” and an article “5 Ways to Save on
529 Day”. Also, in celebration of 529 Day, The Education Plan, in
partnership with New Mexico Community Trust, will be announcing the
winners of the second annual Saving for Success Award which is a
college savings award program with a mission to make higher
education more affordable and accessible through financial literacy
education and encouragement, especially to students in New Mexico
who have financial need. 25 eligible students selected for the
award will receive $1,000 invested in a 529 account with The
Education Plan.
- Ohio: To
celebrate 529 Day, Ohio’s 529 Plan currently has the following
events and activities planned: • 529 Day 2024 – Top Trends in
529 & ABLE Webinar with Paul Curley, Director of 529 & ABLE
Research at ISS MI, and Trisha Good, Executive Director of Ohio’s
529 Plan, CollegeAdvantage • Toledo Mud Hens Education Day, 9
to 11 am at Hensville Park, 1st Pitch 11:05 am at Fifth Third Field
• Fifth Third Bank Financial Empowerment Mobile eBus with
Ohio’s 529 Plan, 12 to 5 pm Santa Maria Community Center,
Cincinnati • Cincinnati Reds-Ohio 529 2024 College Savings Grand
Slam $10,000 Sweepstakes goes live. • Cleveland Guardians-Ohio 529
2024 College Savings Home Run $10,000 Sweepstakes goes live. •
Toledo Mud Hens-Ohio 529 2024 Home Run Readers $2,500 Sweepstakes
goes live. • Cleveland Browns-Ohio 529 2024 Training Camp Kickoff
$5,000 Sweepstakes ends June 3, 2024. • BlackRock Employees
529 Day College Stories on LinkedIn. To learn more about these
activities and latest updates from Ohio visit the 529
Explorer!
- Pennsylvania:
The PA 529 College and Career Savings Program is
celebrating 529 Day with a promotion for new and current PA
529 Guaranteed Savings Plan (GSP) accounts owners with awards
totaling more than $30,000!New PA 529 GSP accounts opened between
May 1 and May 31 will be eligible for one of two top awards of
$5,529 or one of six regional awards of $2,529. *New for 2024*
– Current PA 529 GSP accounts will be eligible for one top
award of $5,529. To be eligible, the existing PA 529 GSP account
must have had a balance of at least $10 as of April 30, 2024, and
receive a contribution of at least $10 between May 1 and May 31,
2024. Conditions apply. Read the official rules for additional
details. Awards are not available for new PA 529 Investment Plan
(IP) accounts.
- CollegeWell:
CollegeWell – Sponsor of Private College 529 Plan is
partnering with Road2College to give families a chance to win
prepaid tuition through The $2K Parent Promise
Giveaway. Families have until June 10, 2024, to enter to win
$2,000 deposited in a Private College 529 account. And on 5/29 at
8:30 pm ET, the experts at Road2College and CollegeWell will
co-host 529 Plans: Maximizing Savings From Birth Through the Teen
Years. Register today to learn savings strategies for
children of all ages.
- South
Carolina: South Carolina’s Future Scholar is celebrating
529 Day with its annual PalmettoBaby grant program. All babies born
in South Carolina on 5/29/2024 are eligible to receive a privately
funded $529 contribution when their parents open a new Future
Scholar account. The deadline to apply for the 2024 PalmettoBaby
Grant Program is 9/3/2024. More information is available
at https://futurescholar.com/news-events/palmettobaby/
- Texas: Texas
will publish a 529 Day article in Comptroller’s Fiscal Notes
publication distributed to an estimated 45,000 individuals;
GovDelivery message to 20 Educational Service Center regions
GovDelivery message to 270 new outreach contacts; Press release to
an estimated 19,000 general market media outlets, including an
estimated 7,500 Spanish market media outlets; Email to
approximately 100,000 current Texas prepaid tuition and college
savings plans’ account owners; GovDelivery message to an estimated
52,600 agency subscribers; Letter to 250 financial advisors with
Lone-Star 529 Plan battery charger; Highlighted in program
newsletter distributed to an estimated 52,600 individuals
- Utah:
Utah residents may be eligible for up to a $40 match if they
open a my529 account for a beneficiary who is new to my529
between May 1 and 31, 2024. To qualify, contribute at least $25 at
opening, and set up scheduled monthly contributions for at least
six consecutive months. More details at my529.org.
- Washington:
For the third year, WA529 is conducting its “What’s Your
Dream Job?” Art Contest during April and May. The entry period
closed May 1 and winners will be announced on 529 Day! We received
permission from our governing Committee to award pre-seeded 529
accounts as prizes, as many other states have done. 26 winners (two
per grade level K-12) will win $529 deposited into a GET or
DreamAhead account.
- West
Virginia: West Virginia will hold a “Fund the Future”
Contest: Win $15,000 toward your child’s future! Make college
dreams a reality! Parents, enter your child, age 17 or younger, in
the Fund the Future Sweepstakes! SMART529, West
Virginia’s Education Savings Solution, will award $15,000 in
college savings invested in a SMART529 account. Don’t delay! The
deadline to enter is May 22, 2024. SMART529 is a program of the
West Virginia State Treasurer’s Office.
- Wisconsin:
Wisconsin’s Edvest 529 College Savings Plan is offering
families a special new incentive to jumpstart their college savings
journey with a match deposit incentive as part of their summer
savings campaign. Individuals who open a new Edvest 529 account
between Monday, May 20, and Friday, May 31, 2024, will be eligible
for a $50 or $100 bonus deposit incentive. For a $50 bonus – an
account must be opened during the offer time with a deposit of $250
or more and recurring contributions totaling $50 or more per month
until 11/30/24. For a $100 bonus – an account must be opened during
the offer time with a deposit of $500 or more and recurring
contributions totaling $50 or more per month until 11/30/24. The
plan will be hosting an educational webinar on Wednesday, May 22,
2024, at 6 p.m. CT. to promote the offer and the plan – Register
Here: https://www.edvest.com/events/webinar-052224/ Details
about the incentive (including terms and condition) can be found
at Edvest.com/summer24.
-
Virginia: Virginia529 is hosting a testimonial contest
through the end of May where customers can share stories of how
Virginia529 has helped their family save for higher education. 25
winners will be selected to receive a $1,000 contribution to their
account. Additionally, on May 29th they will offer a bonus $25 to
all new accounts opened that use a special promo code found on the
website. Webinars will highlight the benefit of an Invest529
account throughout the month. Learn more at
www.virginia529.com.
- Voya IM:
Leading up to National 529 Day, Voya IM is hosting a
series of webinars for advisors titled “Maximizing the Value of 529
Plans” which cover where and how to use 529s to cover education
costs, how to choose the right 529 plan, Secure 2.0 and Roth
rollovers.”
For more information about the College Savings Plans Network,
visit collegesavings.org.
Catherine Seat
College Savings Plans Network
catherine@statetreasurers.org