Ways to Save

With college costs on the rise, you should begin planning for the future as early as possible. Tuition rates have been increasing at more than twice the rate of inflation for over twenty years and could continue to rise.1 Saving now, even just a few dollars each month, can help make a college education affordable for any child. To help you maximize your savings, we’ve outlined some options that may help.

Start Early – 529 Savings Add Up
To better ensure you’ll provide your child with the tools to get the education he or she deserves, remember to start early. By making contributions early to your account, you maximize the potential benefits associated with your investment.

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Give the Gift of Education
There is no better way to contribute to a child's future than to give the gift of education. When your family, friends, and neighbors ask what your child wants for his or her birthday or for the holidays, ask them to contribute to his or her education. Instead of another t-shirt or toy, they might prefer to give something that will provide assistance year after year. Your friends and family can simply give a check payable to UESP directly to you, your child, or directly to us. Be sure to have them include the beneficiary's name and account number on the check.3

To simplify your gift giving, click here to download the UESP Gift Notice. Complete the Gift Notice and give your beneficiary the bottom portion to let him or her know you made the contribution. Complete and send the top portion with your contribution to UESP.

One-Time Contributions
You can contribute to your account according to your own schedule whether that means once a month or once a year. One-time automated contributions may be completed by clicking here. Once you log into your account you will be asked to provide your bank account information and can choose any business day within the next 30 days for the withdrawal to occur.

Make Regular Payments
You may find it easier to reach your education savings goal by establishing a plan that allows you to make automated contributions according to your financial goals—when you save consistently from your paycheck or bank account, your savings add up. To access the forms to allow you to set up a contribution method that is right for you click here, or establish recurring automated contributions through account access.

1 US Bureau of Labor Statistics, 2004. Inflation as measured by the consumer price index (1983-2003).

2 Graph compares the approximate amount of savings that may be earned investing different amounts over different time periods. This graph is only an example of the type of affects compounding may have on money. The graph assumes a 5% annual rate of return compounded monthly. This graph does not consider the impact of any potential state or federal taxes on any portion of the investments, earnings, or redemptions. This graph does not consider the impact of any applicable fees. Neither the State of Utah nor UESP offer any guarantees concerning any rate of return and performance of any UESP accounts.

3 Anyone can contribute to a UESP account; however, once the funds are contributed, they are under the control of the account owner, not the contributor.

 

© 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.

 

"About the only thing more expensive than going to college is not going to college."

— Thomas G. Mortensen (Publisher) Post-secondary Education Opportunity