Whether your child or loved one is a newborn or entering high school, ScholarShare 529, California’s 529 College Savings Plan, can help you achieve your college savings goals. Here’s how ScholarShare 529 can make a child’s future brighter:
- Get $50, when you open a new ScholarShare 529 account between July 1 and September 30, 2018 with an initial deposit of at least $100 and establish an automatic investment plan of at least $25 per month.* For more details, including the terms and conditions, click here.
- California state and federal income tax deferral on any earnings
- Withdrawals for qualified higher education expenses are state and federal income tax free
- For use at eligible education institutions including many schools nationwide and abroad—undergraduate and graduate programs, community colleges and trade schools
- Low minimum contribution of just $25 and a high maximum account balance
- A low, annual asset-based fee and no annual account maintenance fees
- Family and friends may contribute
About ScholarShare 529 College Savings Plan
Anyone with a social security number or federal taxpayer identification number who is a US citizen or resident alien can open a ScholarShare 529 Account for an eligible beneficiary, and more than one person can contribute to a single Account. ScholarShare funds may be used at eligible educational institutions for tuition, fees, books, supplies, and equipment required for enrollment or attendance, as well as certain room and board expenses. Account owners have control of the account including making the selection of the investment portfolio(s), making withdrawals, and changing the beneficiary. Note: Transfers and rollovers may be subject to differences in features, costs and surrender charges. Indirect transfers may be subject to taxation and penalties. Consult your tax advisor about your own situation.