Parents, many of you have been meaning to start college savings accounts for your kids, right? Here’s your chance to check that off your long to-do list and get a bonus in the process. Now through May 29, Virginia529 College Savings Plan will add $50 to new accounts opened with at least $100. You also won’t pay an application fee because they’ve waived that, too, through May 29.
In addition to matching contributions, Virginia529 will award one person a $2,500 contribution for a new or existing Virginia529 account. That means if you’re already saving for college with Virginia529, you can enter the drawing to boost your account value and have even more available for your kid’s education.
These offers are only available through May 29 (5/29) because that is 529 College Savings Day, or 529 Day for short. If you’re expecting a baby on or about May 29, you also might be interested in their 529 Day Baby contest. Learn more about 529 Day and all the special activities at Virginia529.com/529day.
If you’re just learning about Virginia529, here’s some quick info: Virginia529 offers four programs to help people save money for higher education. Their programs can be used for public and private higher education nationwide, including at community colleges. Because the funds can be used for technical, continuing education and advanced degree programs, 529 accounts can benefit adults as well as children. Earnings you accrue on your account are free from federal and state tax when used for qualifying higher education expenses.
This article is sponsored by Virginia529
]]>Thursday, May 22nd 6:30 PM
Jepson Alumni Center
University of Richmond
Please RSVP by May 20th to info@bosticfinancial.com or 804-869-9541 for more information.
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For many Americans, saving does not come easy.
Society constantly bombards us with messages to buy the latest or greatest, urges we can satisfy practically anytime and anywhere thanks to technology. But immediate gratification can interfere with our ability to realize long-term or higher-priced desires, such as a car, a home or higher education.
February 24 through March 1 is America Saves Week.
Why not take time this time to evaluate the progress you’ve made toward your college savings goal? If you are right on track, congratulations! If you aren’t, our friends at Virginia529 are ready to help you get on track with these great tips:
• Save it before you can spend it! Set up monthly withdrawals from your checking or saving account to make college savings automatic.
• Is there a small sacrifice you can make now to enjoy a bigger reward down the road? Check your budget for a little extra to contribute each month.
• Due a tax refund? Put all or some in your 529 account.
So head over to Virginia529.com and get your college savings on track!
And be sure to follow them on Facebook and Twitter for 529 plan news, savings tip and exclusive opps at money towards college.
Virginia 529 is a sponsor of Richmondmom.com
]]>Richmond, VA (May 20, 2013) – The Children’s Museum of Richmond announced today that it plans to raffle four years of college tuition. Tickets will be available starting May 29 with the winner drawn on June 30 receiving an eight semester Tier I Virginia529 prePAID tuition contract. Proceeds from the raffle will benefit the Children’s Museum’s free and reduced price admission program, which last year underwrote the cost of museum admission for 57,000 of the museum’s 360,000 visitors. Raffle tickets will cost $45 each.
“We are thrilled to make a college education possible for a child while making the museum available to so many more children,” said Karen Coltrane, the Children’s Museum’s president and CEO. “We think the raffle reflects the Children’s Museum’s educational mission with a twist of fun and excitement.” The Museum hopes to sell 2,000 tickets during the 33 day campaign.
The museum is partnering with Virginia529 College Savings Plan, which is providing marketing support for the effort. “Virginia529 is pleased to provide an eight semester prePAID contract for raffle with the Children’s Museum of Richmond,” said Mary Morris, CEO of Virginia529. “What a great prize for the lucky winner – a full four years of tuition & mandatory fees covered at any Virginia public university.” The value of the eight semester tuition contract will vary based on the age of the named recipient, but will be between $54,600 and $58,600.
James River Air is also supporting the effort. “As soon as I heard about it, I jumped at the chance to buy 100 tickets for my customers,” said Hugh Joyce, president of James River Air. The locally owned heating and air conditioning company will feature the Children’s Museum’s tuition raffle in its upcoming spring television promotion. “Where else can you have an excellent chance to win four years of college tuition for $45 while supporting a beloved community organization?”
Tickets will be available at all three Children’s Museum of Richmond locations and online through the museum’s website.
VA529 is an advertiser on Richmondmom.com
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An increasing number of parents are saving to fund their children’s college costs, according to the College Savings Foundation’s sixth annual State of College Savings survey. In addition,the use of tax-advantaged 529 college savings plans is growing. However, much work remains to be done, with the survey also finding two-thirds of parents expect their children to contribute more financially and more than two-thirds expect to rely on student loans to cover the costs of college.
To raise awareness about the importance of saving for higher education and the tax advantages of 529 plans, Virginia529 College Savings Plan (Virginia529) joins other 529 plans around the United States to celebrate 529 College Savings Day on May 29, 2013.
VA529 will Award $15,000 in Contributions
This month, Virginia529 will award more than $15,000 in contributions to college savings accounts to multiple winners.
- Two $5,000 Virginia529 account contributions will be awarded, one to an existing Virginia529 account owner and one to get a family started with Virginia529.
- In addition, babies born closest to 5:29 p.m. on May 29 at participating hospitals across the state will win accounts with $529 opening balances.
Waive registration fees with Savvy Saver card!
“This is our fifth year participating in 529 Day celebrations statewide,” said Mary G. Morris, Virginia529’s CEO. “We want families to start a conversation about college costs and get started saving. Families already participating with Virginia529 can check up on their accounts, consider making regular contributions via payroll deduction or automatic electronic deposits, or just commit to increasing their existing saving levels. And, we hope families saving for college outside a 529 plan will look at the advantages of using a 529 account as their primary savings vehicle.”
Types of Plans, Minimum Contributions, and More
Virginia529 offers four tax-advantaged college savings programs, including:
- two investment programs
- a prepaid tuition program
- an FDIC-insured high-yield savings account program available through BB&T and Union First Market Bank®
Funds in Virginia529 programs can be used at public and private eligible educational institutions worldwide. The minimum contribution to open an account is $25 and contributions grow free from state and federal taxes when used for qualified higher education expenses. In addition, Virginia taxpayers may deduct up to $4,000 per year per account from individual state taxable income.
Learn more about 529 Day events and contests at Virginia 529. And read what Morningstar had to say about VA529 too.
Be sure and use your Richmondmom.com Savvy Saver Card to save on registration fees – use code to waive fees: “RICMOM”.
VA529 is an advertiser on Richmondmom.com
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U. S. News & World Report recently published an article (February 13, 2013), about the value of 529 Plans – and they cited a Virginia resident who more than doubles the interest rate on the savings accounts that are a part of his 529 plans, tax-advantaged college investment accounts, than he does from his bank.
In the article they note, “Virginia offers a savings account in its state 529 plan with approximately a 2 percent interest rate. The national average for savings account interest rates was less than 0.1 percent for the week of February 8, according to the Federal Deposit Insurance Corp.”
This is no surprise to savvy Virginia parents who are already taking advantage of VA 529 plans. There are 4 plans to choose from making it a great option for many different situations.
Community Supporters
Taking advantage of VA 529 plans just makes sense when thinking about college tuition in years to come. But there are other reasons too.
VA 529 places emphasis on their role as citizens of the Commonwealth of Virginia and leaders of the 529 industry.
- All employees have two paid days per year to give back to their communities and volunteer with non-profit organizations of their choice.
- In addition, VA529 employees partner with Junior Achievement, the Christmas Mother, the Central Virginia Foodbank, Partnership for the Future, and the Commonwealth of Virginia Campaign to provide volunteers, resources and donations to support the communities in which we live.
- Every day they seek ways to assist families through program enhancements, technology improvements, targeted education, and scholarship.
- They are motivated by seeing students achieve their dreams of a college education.
- In January 2013, an OnWallStreet.com article noted, “Among 529 savings plans, Virginia’s CollegeAmerica plan, offered by American Funds, continued to dominate.”
Visit the website to learn more and join the leader in 529 Plans today – for a better future for your kids tomorrow.
Take advantage of even more savings with your Richmondmom.com Savvy Saver card – registration fees are waived!
VA 529 Plans is an advertiser on Richmondmom.com
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Did you know this week is Virginia College Application Week? Thanks to VA 529 for making it possible for so many Virginia students to attend the college of their choice. Learn more about Virginia 529 and consider making it a Christmas gift for someone special.
Virginia College Application Week
WHEREAS, by 2018, 64% of all jobs in Virginia will require some postsecondary training beyond high school; and
WHEREAS, 65% of the most recent advertised online job openings in Virginia require some college education, with a high school diploma no longer enough to guarantee career-track employment that provides a living wage; and
WHEREAS, those individuals entering college after high school and completing a bachelor degree experience median wages in excess of $44,000 per year compared to approximately $31,000 per year for those who do not complete any college credential, ten years after entry into college; and
WHEREAS, the Virginia Department of Education is dedicated to ensuring that all Virginia K-12 students are provided a high-quality education that prepares them for success in college and career; and
WHEREAS, during the week of November 26-30, 16 of Virginia’s high schools will participate in a pilot program, with the assistance of trained school staff and college and community volunteers, that aims to assist their seniors in completing a college application; and
WHEREAS, during the week of November 26-30, I encourage all Virginia high school seniors to apply to the Commonwealth’s world-class higher education institutions;
NOW, THEREFORE, I, Robert F. McDonnell, do hereby recognize November 26-30, 2012 as VIRGINIA COLLEGE APPLICATION WEEK in our COMMONWEALTH OF VIRGINIA, and I call this observance to the attention of all our citizens.
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Editor’s Note: Save the fee using your Savvy Saver Discount and start an account today!
September is College Savings Month and VA529 has some great opportunities to save. With four unique programs, there is something for every type of savings strategy and style. Wondering why you should start saving now?
Here are 4 great reasons:
Tax Advantages
- All earnings in Virginia 529 accounts grow free from federal tax.
- Virginia taxpayers with Virginia 529 accounts may deduct up to $4,000 per year, for each account they own, with an unlimited carry-forward.
- Account Owners age 70 or above may deduct the entire amount of their contributions at one time or in any future tax years
- Favorable estate and gift tax provisions
And if that’s not enough, consider the future costs of college. The average college tuition and fee charges at four-year public institutions increased from $617 in 1976-77 to $5,930 in 2009-10, an 861 percent increase over 33 years, according to the College Board’s 2009 report, “Trends in College Pricing.”
Get a head start on college savings and be prepared for your child’s future education. Visit the VA529 website to learn more and to get started.
VA529 is an advertiser on Richmondmom.com
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VA529 and college access providers will offer assistance to eligible high school students to help students reach their post-secondary education goals- including financial literacy and academic preparation, assistance with the admissions and financial aid process and scholarship support of up to $2,000. Students must agree to meet program requirements which includes community service and working with a college access provider.
The SOAR program, which has been in development for the last two years, supports the VA529 mission of making college more accessible and more affordable to Virginians. By partnering with GReat Aspirations Scholarship Program, Inc, (GRASP) the program is being launched to 9th and 10th graders in two urban, two suburban and two rural high schools and is expected to reach 100 students in the first year.
GReat Aspirations Scholarship Program, Inc, (GRASP) – “GRASP is a non-profit organization specializing in helping students and their families, regardless of financial resources, to develop an
educational plan for after high school. GRASP’s professional financial aid counselors work in high schools and private settings, without charge to students and families, to assist in overcoming financial and motivational challenges to the goal of higher education.”
Virginia 529 College Saving Plan (VA529) – Is the resource for Virginia’s tax-advantaged college savings programs. Virginia College Savings Plan’s mission is to make a college education more affordable for everyone. VA529 has four programs to offer more options to more people.