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UA College Savings Plan makes saving for educational expenses easy

by Michelle Saport  |   

Saving for college looks good on Sophia, Dominic, and Isabella Dosch! (Photo credit: Myron Dosch)

Saving for college looks good on
Sofia, Dominic and Isabel Dosch!
Photo credit: Myron Dosch

September is College Savings Month, as proclaimed by the Governor, and we encourage all families to evaluate their college savings needs and goals and to take advantage of Alaska's top-rated 529 offering, the UA College Savings Plan.

The UA College Savings Plan is a tax-advantaged way to save for future education expenses. It offers many benefits including a variety of investment options, several contribution methods and portability. As an employee at the University of Alaska, you have the option to save conveniently through payroll deduction. Please contact us for more information.

We have been busy this past year making the plan even better. Here are a few enhancements we are are pleased to share with you:

  • The GoTuition Gifting Portal, an online tool that makes it easy for you to ask friends and family to contribute to your child's college savings plan in lieu of gifts for traditional celebrations like graduations, baby showers and birthdays. It allows gift givers to conveniently transfer funds to your account.
  • Education Planning Center, a comprehensive, planning tool that helps plan participants know if they're on track with their savings goals. It provides personalized, age-specific, education passports from birth to graduation, and information on financial aid, scholarships, and grants.
  • 529 accounts have become even more versatile. You are now permitted to take 529 college savings plan distributions of up to $10,000 per beneficiary per year for tuition at an elementary or secondary public, private or religious school.

Our goal is to make saving for educational expenses easy, and to help you make the most of your savings. Happy College Savings Month!

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