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• FAQs
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  • Using Your Account
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  • Tax Considerations
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  • Online Resources
• Investment Options
  • Summary of Options
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Simple & Easy

Opening and contributing to a Utah Educational Savings Plan (UESP) account is simple and easy. There are

• no enrollment fees
• no minimum deposit requirements
• no ongoing contribution requirements
• no withdrawal fees

Open an account and contribute what you can, when you can. UESP is designed to meet any family’s budget.

Online Account Access
To view your account details online, simply establish a user name and password. Once you are registered, you can return to your secure, online account to view your information, quarterly statements, and account activity. Use caution and do not give your online account access information to any unauthorized individuals. To access your investment account or establish Account Access, click here.

Contribution Methods
UESP offers a range of options to make it easy for you to save and contribute to your college savings account. Contributions can be made by

• Check: Checks should be made payable to UESP and mailed to Utah Educational Savings Plan, PO Box 145100, Salt Lake City, UT 84114-5100. Be sure to include the UESP account number and beneficiary’s name on the check.
• Online: Online from this Web site. Click here to make an online contribution.
• Automated Contributions: Automated contributions can be set up from your checking or savings account as a one-time lump sum or as an ongoing, regularly scheduled contribution. Automated contributions can be established through your online account access or by completing and submitting the Automated Contributions Authorization and Change form.
• Wire Transfer: Wire transfers must be initiated by your own financial institution. The UESP Wire Transfer Notification form must be completed in addition to any forms that your financial institution may require.
• Payroll Deduction: Payroll deduction is available only through participating employers. Contact UESP to see if your employer is participating.  

Investment Options
Not everyone’s educational savings needs are alike. Your children may already be in grade school or even high school. You may be comfortable with a little more risk to potentially gain a higher rate of return, or want to stick with a more conservative plan. That’s why we designed a variety of choices for you.

UESP offers eleven investment options, each with different risk tolerances, including an FDIC- insured savings account option and one no-fee option for Utah residents. The other nine options are invested in mutual funds managed by The Vanguard Group®, one of the nation’s largest mutual fund management companies.¹ Click here to see a list of investment options.

 

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1 As of August 31, 2009, The Vanguard Group® manages over $1.25 trillion in U.S. mutual fund assets in nearly 160 funds..

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© 2009 Utah State Board of Regents, all rights reserved.
The terms Utah Educational Savings Plan and UESP are registered service marks.

Investors should read the Program Description and consider all investment objectives, risks, charges, and expenses before investing. The Program Description is available for download on the Web or a hard copy can be mailed to you by requesting it online from this Web site.

FDIC Insurance. Except for the underlying investment specified below, investments in UESP are not insured by the Federal Deposit Insurance Corporation (FDIC). FDIC insurance is provided for the FDIC-insured savings account held in trust by UESP at Zions First National Bank (Bank). Funds in the savings account are insured by the FDIC on a pass-through basis to each account owner up to the maximum amount set by federal law—currently $250,000 through December 31, 2013, and $100,000 thereafter. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in UESP’s FDIC-insured savings account plus (2) the value of other accounts held (if any) at the Bank, as determined by the Bank and by FDIC regulations.

No Other Insurance and No Guarantees. Investments in UESP are not insured nor guaranteed by the State of Utah, UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority, other state agencies, federal government agencies (except to the extent noted above regarding FDIC insurance ), or any employees or directors of any such entities. Units in UESP have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

Account Value. The value of your UESP account may vary depending on market conditions and the performance of the investment option you select. It could be more or less than the amount you contribute; in short, your investment could lose value. However, subject to the application of Bank and FDIC rules and regulations to each account owner, funds in UESP’s FDIC-insured savings account will retain their value, whether in Option 11 or when allocated to portions of Options 2, 7, 8, and 9.

Non-Utah taxpayers and residents: You should determine whether the state in which you or your beneficiary pay taxes or live offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP. You should consider such state tax treatment and benefits, if any, before investing in UESP.

 

"Generally speaking, it's still Utah— which is one of the reasons that it is perennially on top of our list of the best 529 plans."

Morningstar, Inc.
Independent Investment Research
May 10, 2007