Give the Gift of EDUCATION
By Olene Walker When we discovered the Utah Education Savings Plan (UESP) eight years ago, my husband and I determined that the best gift we could give our twenty-five grandchildren was to open an account for each one of them so that they would have the motivation and means to get additional education after graduation from high school. It was the perfect gift! They could go to the college or university of their choice and have the opportunity of having the account pay for their tuition or if they chose to attend a more exclusive school, the money would be available to pay part of the tuition. THE IMPORTANT THING WAS THAT IT MADE THEM THINK ABOUT WHERE THEY WANTED TO GO TO COLLEGE RATHER THAN IF THEY WANTED TO GO. Often girls as well as boys fail to get their degree because money is not available. It is wise for families to plan and start saving plans for education early. One of the top reasons young women drop out of college is the lack of finances. Eighty-six percent of participants in a Utah study who had not finished college cited this as a reason (Source: Utah Women and Education Project,Research Snapshot 12). By starting to save early, you can avoid this barrier. Lt. Governor Bell encouraged families to make saving for college a top priority:
“Let’s resolve to make saving for college a high personal and family priority. Students, parents, grandparents and extended family can all make a difference. Research shows that those who explicitly make resolutions are ten times more likely to attain their goals than people who don’t. While setting money aside is never easy, saving for college has never been more convenient or necessary. Utah’s state-sponsored Utah Education Savings Plan is one of the best college savings plans in the nation. It provides an easy to use, automatic, affordable, and tax-advantaged program for individuals wishing to put money away for college, for themselves, their children or grandchildren.”The Utah’s Education Savings Plan (UESP) recently received a Gold Analyst Rating from Morningstar Inc., a leading provider of independent investment research. This is the highest rating given by Morningstar, and only four 529 plans out of the 64 analyzed achieved this honor. Starting an education savings plan for your children or grandchildren is a way to show you love them and that you care about their future. This Christmas, give the gift of higher education and make it easier by starting an education savings plan for your children who are still young. It’s free to start, and there is no minimum investment. Click here to learn more.