SOURCE: Virginia529 College Savings Plan

Virginia529 College Savings Plan

May 25, 2015 04:05 ET

Win Money for College Through the End of May

Virginia529 Offering Special Incentives for 529 Day, May 29

RICHMOND, VA--(Marketwired - May 25, 2015) - Virginia529 College Savings Plan (Virginia529) is giving you multiple reasons to start saving for higher education costs by offering chances to win money in May:

  • Open a Virginia529 inVEST account with just $25 through May 31 and be entered automatically into a drawing for $10,000 extra to be deposited into your inVEST account. Current customers also may submit an entry.
  • Expecting a baby? If your special delivery arrives on May 29, you could win an inVEST account valued at $529 for your newborn. The one born the closest to 5:29 p.m. at each participating Virginia hospital will receive the account.

The promotions are part of 529 College Savings Day (529 Day), a nationwide initiative to raise awareness about the importance of saving for higher education. 529 Day is Friday, May 29.

"Saving for college is parents' top money concern, more than unexpected medical costs and retirement, according to a recent survey by Gallup," said Mary Morris, Virginia529 CEO. "Tax-advantaged Virginia529 accounts help people put money aside now to provide more options in the future and limit reliance on student loan debt."

Savings in Virginia529 accounts can be used for technical, continuing education and advanced degree programs, as well as traditional two- and four-year schools, which means 529 accounts can benefit adults as well as children. The funds can be used at public and private higher education schools nationwide and around the world, including community colleges.

The tax advantages of 529 accounts make them smart solutions for avoiding student debt. 529 earnings are free from state and federal taxes when used for qualified higher education expenses. Virginia taxpayers enjoy an additional benefit when saving with Virginia529: a state individual income-tax deduction of up to $4,000 per account per year.

Learn more about the 529 Day special offers at Virginia529.com/529day.

About Virginia529 College Savings Plan:
Virginia529 is a 529 college savings plan that offers flexible, affordable, tax-advantaged savings for qualified higher education expenses through its four programs: Virginia529 prePAID ℠ (prePAID ℠), Virginia529 inVEST ℠ (inVEST ℠), CollegeAmerica® and CollegeWealth®. More than $54 billion in assets under management and 2.4 million accounts as of March 31, 2015 make Virginia529 the largest 529 plan available. For more information on Virginia529's college savings options, visit Virginia529.com or call 1-888-567-0540 to obtain program materials. These include information on Virginia529 programs, investment objectives, risks, charges, expenses and other important information; read and consider them carefully before investing. All investments are subject to risk, including the possible loss of the money you invest. Virginia529 encourages prospective participants to seek the advice of a professional concerning any financial, tax or legal implications related to opening an account. For residents of states other than Virginia: your state or the beneficiary's state of residence (if different) may sponsor a 529 plan that offers state income tax and other benefits not available to you through Virginia529 College Savings Plan. ©2015 Virginia College Savings Plan. All Rights Reserved.

Contact Information

  • Kelley Hope
    Communications Manager
    Virginia529 College Savings Plan
    (804) 225-2452