Saving for college is a difficult task for any parent or student, and often parents and students give up before even trying because they assume it is simply an unachievable goal. 529 savings plans, which were created pursuant to Section 529 of the Internal Revenue Code, are investment accounts that can help parents or students save money over time for the high cost of education. These accounts are sponsored by individual states and provide tax advantages when funds are used for qualified education expenses. These accounts may be used at two- and four-year public and private colleges, graduate, or professional programs, and some vocational or technical schools. Studies have shown that students who have even a small amount saved for college are more likely to attend than those who do not.
Therefore, College Bound Kids is an effort to educate parents and students about the existence of 529 college savings plans, how to get started, and their benefits. College Bound Kids will be available at events in Richland One School District at the beginning of the 2019-2020 school year, including a back to school bash held annually for students with an identified need and parents’ nights. Additionally, College Bound Kids will develop additional resources for parents and students to assist them with their 529 college savings plan efforts.