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This is Fred Ball for Zions Bank, speaking on business.
It's never too early to start saving for your children or grandchildren's college. Studies have shown the importance of a higher education, but the costs to attain a college degree continue to skyrocket. Why not start saving now?
Thanks to the Utah Educational Savings Plan (UESP), saving is easier than ever. It's the state's 529 college savings plan and it doesn't require a minimum deposit or balance, so families can save the amount that fits within their budget. As an added bonus, earnings are free of federal and state taxes and Utah taxpayers get a state tax credit. Funds can be used at almost any school for everything from tuition, books, fees, room, board or even a computer, an essential item for any college student.
Lynne Ward, UESP director, tells me the program was established in 1996 by the state of Utah. Today, investors can choose from 11 different investment options. One of the biggest advances since the plan initially launched is that users can now sign up on the UESP Web site, uesp.org. Account holders love online signup because it's more convenient and easy to use and saves trees since it doesn't require any paper.
In addition to the savings that accumulate, Utah Educational Savings Plan accounts offer two main advantages, Lynne says: 1) tax benefits and 2) the message to children that their parents prioritize education and are committed to providing it for them.
Lynne feels the Utah Educational Savings Plan is a great benefit for both students and their parents. While the plan helps families to save for college, it also helps children learn the value of saving and it can potentially help students graduate from college sooner because they might not have to work while attending school. Ultimately, we all benefit from a better educated work force so Lynne hopes to continue spreading the good news about the UESP and encourage more Utah families to begin saving today.
For Zions Bank, I'm Fred Ball. I'm speaking on business.
Utah Educational Savings Plan Board of Regents Building, Gateway 2 60 S. 400 West Salt Lake City, UT 84114 801-418-2551 www.uesp.org