FAIRBANKS, Alaska - "For Their Future Movement," Is The National Campaign That Is Raising Awareness About 529 Plans. Alaska And The UA College Savings Plan Is Joining With 27 Other States To Take On The Student Debt Crisis And Helping Families Plan Ahead For Higher Education Costs.
Lael Olmixon is the Director, UA college savings plan. "This campaign really the out come is that we want families to address this the national student debt issue by saving for college in 529 plans," said Olmixon.
Olmixon Says The Goal Of A 529 Plan Is To Build A Foundation For Families While Kids Are Still Young. A 529 Plan Is Named For The IRS Tax Code 529, And Most People Know Them As College Savings Plans.
"The 529's are a tax advantaged way for families to save for future education. So what happens is the money they invest in these college savings plans have the potential to grow and earn interest in their investment. And that interest is tax free as long as the account is used for qualified education," she said.
Olmixon Says Another Advantage Is The Price Of Tuition At Enrolment Stays The Same When A Child Decides To Attend, Even With Rising Inflation. She Also Says That Children Who Have Money Set Aside Are Six Times More Likely To Go On To Post High School Education. Including Vocational And Technical And Four Year Degrees At Colleges And Universities.
"That is a powerful and amazing statistic that we have we know that talking to children at a young age and encouraging them to do their best and succeed at school is the best motivator for those students, for those kids. And them knowing that they have the certainty of some money set aside is something that can also encourage them to be like you believe in me, I've got this, I can do this," She Remarked.
The National Campaign Has Also Partnered With A Famous Friend Daniel Tiger, Who Is Looking To Share Messages About Saving For College, Featuring Videos Before And After Episodes For The Next 18 Months.
For more information you can visit https://529forcollege.com/media-kit/ and for more information on the UA college savings plan https://www.uacollegesavings.com/