Offer celebrates National 529 Day and runs from May 29 to June 1
In celebration of National 529 Day — a day dedicated to raising awareness about the importance of saving for college — the Minnesota College Savings Plan is excited to announce the save $50, get $50 promotion, which is available from May 29 to June 1.
To take advantage of this special promotion, users must open a new account with at least a $50 contribution and set up automatic payments of at least $25 a month for six months. From there, the Minnesota College Saving Plan will automatically make a matching $50 contribution to the user’s account.
“Our mission is to make it easier for families to save for college and we thought of no better way to celebrate 529 Day than with the save $50, get $50 promotion,” said Jim Mandler, senior marketing manager for the Minnesota College Savings Plan. “If you’ve been putting off saving, this is the perfect time to start building a strong financial foundation for your child’s future.”
With a variety of investment choices, including the popular age-based options, the Minnesota College Savings Plan’s low fees, combined with tax advantages for qualified Minnesota residents, makes it easy and effective for more families to save for college.
For instance, Minnesota residents can claim a state income tax deduction of up to $3,000 for joint filers and $1,500 for all other filers. Plus, funds used to pay for qualified education expenses can be withdrawn tax-free at both the state and federal level.
For more information about the Minnesota College Savings Plan or to open an account, visit mnsaves.org or call 1-877-338-4646.
About the Minnesota College Savings Plan
The Minnesota College Savings Plan, Minnesota’s official 529 college savings plan, makes it easier for families to save for higher education expenses. It takes just $25 and 15 minutes to open a Minnesota College Savings Plan account and funds saved can be used at colleges, technical schools and grad schools nationwide. Additionally, funds may be used for certain room and board expenses, books, supplies or other qualified expenses — not just tuition.