Saving for College Doesn’t Have to be Scary with Edvest

MADISON, Wis. (October 10, 2022) – During this period of inflation and turbulent markets, families in Wisconsin may be hesitant to invest. However, saving for college doesn’t have to be scary.

To help families jumpstart their college savings, Edvest, Wisconsin’s 529 College Savings Plan, is announcing a $50 bonus for new accounts opened between October 10 and October 31, 2022.

This offer aims to motivate parents and grandparents to start saving for their “little pumpkin” this Halloween season.

“The sooner families start saving for higher education, the more time their money can grow. And that would give them a stronger financial foundation down the road for their loved one,” said Wisconsin Department of Financial Institutions Secretary-designee Cheryll Olson-Collins.

“Every dollar saved today, may be one less dollar borrowed tomorrow. We hope this $50 incentive is the boost families need to open an Edvest account today,” said Olson-Collins.

It’s easy to start saving for higher education and receive the Edvest bonus. Simply follow these four steps:

1. Open an account between October 10 and October 31, 2022, at Edvest.com/treat.
2. Make an initial deposit of $50.
3. Set up recurring contributions of $30 or more for six consecutive months.
4. Receive the $50 bonus!*

Edvest account owner John Gosling started investing early when his daughters were born. One daughter has graduated from college, and another is currently studying, both debt-free.

“It took a big amount of stress off their minds,” said Gosling. “It’s not hard to put away a little bit of money every month and have it reap big rewards in the long term.”

For more information about Edvest and how to open an account, visit Edvest.com, or follow Edvest on Facebook.

About Edvest
Edvest is Wisconsin’s direct-sold 529 College Savings Plan designed to help families save for higher education expenses. Account owners can choose from 24 investment portfolios, access easy-to-use savings tools, and take advantage of in-state tax benefits for Wisconsin taxpayers.

Earnings are tax-free if used for qualified education expenses like tuition and fees, books, laptops, and more. Funds can be used at any accredited public or private university, college, technical college, community college, or professional school nationwide and many schools abroad. Funds can also be used for apprenticeships registered and certified with the Secretary of Labor under the National Apprenticeship Act. The plan has no sales charges, enrollment fees, or annual account maintenance fees. Edvest is the sixth lowest-cost 529 college savings plan in the nation.¹

*When you open a new Edvest account with a $ 50 contribution (and sign up for recurring contributions of $ 30 or more per month for a minimum of 6 months) between October 10, 2022, at 12:01 a.m. (CT) and October 31, 2022, at 10:59 p.m. (CT), Edvest will match $50 on or before May 31, 2023. Visit www.Edvest.com/treat for terms and conditions. Void where prohibited or restricted by law. Promotion ends 10/31/22. Sponsored by Wisconsin’s Edvest College Savings Plan.

¹ISS Marketing Intelligence 529 College Savings Fee Analysis Q2 2022. Edvest’s average annual asset-based fees are 0.16% for all portfolios compared to 0.52% for all 529 plans – more than three times lower than today’s national average for 529 plans.

To learn more about Wisconsin’s Edvest College Savings Plan, its investment objectives, tax benefits, risks and costs, please see the Plan Description at Edvest.com. Read it carefully. For the 2022 tax year, Wisconsin taxpayers can qualify for a state tax deduction up to $3,560 per beneficiary from contributions made into an Edvest College Savings Plan. Investments in the plan are neither insured nor guaranteed and there is the risk of investment loss. If the funds aren’t used for qualified higher education expenses, a federal 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan. Consult your legal or tax professional for tax advice.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.