Three Reasons Edvest is the Perfect Grad Gift

Whether your child is graduating kindergarten or eighth grade, now is the time to start saving for college. Help your future graduate be ready for the cost of higher education by opening or contributing to an Edvest 529 College Savings Plan account today.

Here are three great reasons why Edvest makes the perfect gift for any grad:

Reason #1: State and Federal Tax Benefits

Any earnings on your Edvest account are state and federal tax-free when used to pay for qualified college expenses. Wisconsin also offers a tax benefit for state residents who contribute to an Edvest account, which was recently raised to $3,140 per beneficiary!

Reason #2: Easy to open, easy to maintain

Opening an Edvest account is easy; all you need is 15 minutes, the beneficiary’s social security number and birth date. Log in securely to view account activity, invite friends and family to eGift, and perform updates as needed.

Reason #3: So many ways to use Edvest funds

Funds saved through Edvest can be used at colleges, technical schools, and grad schools nationwide and abroad on books, room and board, computers/tablets or other qualified expenses – not just tuition.

Giving the Gift of Education

Family and friends can help you save for college by gifting to a child’s Edvest account this graduation season. With a variety of easy options, it’s never been easier to contribute!

Convenient giving options include:

  • Open and fund an Edvest account
  • Gift by check or electronic transfer from a bank account
  • Invite family & friends to eGift securely, online
  • Purchase an Edvest gift card at Edvest.com

Why Edvest?

In addition to the benefits listed above, SavingforCollege.com recently ranked Edvest as one of the Top 10 529 plans for investment performance and awarded the program a 5-Cap Rating*, which indicates that a 529 plan offers outstanding flexibility, attractive investments, and additional economic benefits.

To learn more, visit Edvest.com or call 1-888-338-3789.

*Source: Savingforcollege.com, December 1, 2016.The Edvest College Savings Plan received a 5-Cap Rating for Wisconsin residents and 4.5-Cap Rating for non-residents. A 5-Cap Rating represents the attractiveness of a 529 plan, relative to all other 529 plans, by assigning an overall rating to each 529 program ranging from 1 Cap (least attractive) to 5 Caps (most attractive). 5-Cap Ratings represent an assessment based on many considerations such as flexibility, liquidity and availability, ownership rights, state benefits, investment approach and safety, program resources and financial aid impact. It is not strictly a measure of historical returns, and it is not a predictor of future investment performance, level of investment risk or financial solvency of the program funds. These ratings are not the result of a fixed formula and a significant portion of the analysis is subjective. Before establishing a 529 account and making contributions, it is imperative that investors read and understand all enrollment materials and disclosures from the programs.

To learn more about the Wisconsin’s College Savings Plan, its investment objectives, tax benefits, risks, and costs please see the Disclosure Booklet at edvest.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. If the money isn’t used for qualified higher-education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.  Check with your home state to learn if it offers tax or other benefits for investing in its own 529 plan.

Taxpayers should eek advice from an independent tax advisor based on their own particular circumstances.

Neither TIAA-CREF Tuition Financing, Inc., nor its affiliates, are responsible for the content found on any external website links contained herein.

TIAA-CREF Tuition Financing, Inc., Plan Manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributor and underwriter for the Wisconsin College Savings Plan.

All social media platforms are managed by the State of Wisconsin.

 

 

 

Save More for College with Edvest

Good news for Wisconsin families! The Edvest 529 College Savings Plan’s Wisconsin tax benefit has been raised to $3,140 for each future student!  The increase also applies to Tomorrow’s Scholar, Wisconsin’s financial advisor-sold 529 college savings plan.

What This Means for You

Simply put, Edvest account holders may enjoy significant tax benefits while preparing for the cost of higher education.

Wisconsin residents, regardless of their relationship to a child, may reduce their state taxable income by up to $3,140 for each future student per year ($1,570 for divorced parents). Meaning that if you have accounts for two of your children or grandchildren, you may be eligible for a state tax deduction of up to $6,280. Three accounts…$9,420 and so on.

Plus, any earnings on your Edvest account are tax-free at both the state and federal level when used to pay for qualified college expenses.

Carry Forward for Future Tax Benefits

Are you rolling over balances from another 529 plan or plan to make a contribution from savings, inheritance or bonus? If your contributions are greater than the maximum state tax benefit of $3,140, you may carry forward the balance until exhausted.

Super Fund!

You might find you want to make a larger gift but you’re hesitant to commit. What will it mean for you during tax time? What are the implications to your estate? First, speak with your financial planner, tax attorney or estate planning attorney. Then consider giving the gift of higher education to the child in your life! There’s no federal gift tax on contributions up to $14,000 per year for single filers and $28,000 for married filers.

You can even accelerate that gift in one year by gifting amounts up to $70,000 for single filers and up to $140,000 for married filers if pro-rated over 5 years. This means you could make a one-time gift equivalent to the 5-year amount and it could all qualify for the federal gift tax exclusion. Consult your tax advisor.

Why Save with Edvest?

SavingforCollege.com recently ranked the Edvest College Savings Plan as one of the Top 10 Performing 529 College Savings Plan and previously awarded the program a 5-Cap Rating for the Plan’s flexibility, attractive investments and additional economic benefits.*

Preparing for the cost of higher education with Edvest can make a difference. Your Edvest funds may be used at colleges, technical schools and grad schools nationwide and many schools abroad. Pay for tuition, room & board, books, computer/tablets and internet access, and other qualified expenses. To learn more, visit Edvest.com or speak to an Edvest College Savings Specialist Monday through Friday from 7 am to 7 pm at 1-888-338-3789.

*Source: Savingforcollege.com, December 1, 2016.The Edvest College Savings Plan received a 5-Cap Rating for Wisconsin residents and 4.5-Cap Rating for non-residents. A 5-Cap Ratings represents the attractiveness of a 529 plan, relative to all other 529 plans, by assigning an overall rating to each 529 program ranging from 1 Cap (least attractive) to 5 Caps (most attractive). 5-Cap Ratings represent an assessment based on many considerations such as flexibility, liquidity and availability, ownership rights, state benefits, investment approach and safety, program resources and financial aid impact. It is not strictly a measure of historical returns, and it is not a predictor of future investment performance, level of investment risk or financial solvency of the program funds. These ratings are not the result of a fixed formula and a significant portion of the analysis is subjective. Before establishing a 529 account and making contributions, it is imperative that investors read and understand all enrollment materials and disclosures from the programs.

To learn more about the Wisconsin’s College Savings Plan, its investment objectives, tax benefits, risks, and costs please see the Disclosure Booklet at edvest.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. If the money isn’t used for qualified higher-education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.  Check with your home state to learn if it offers tax or other benefits for investing in its own 529 plan.

Taxpayers should seek advice from an independent tax advisor based on their own particular circumstances.

Neither TIAA-CREF Tuition Financing, Inc., nor its affiliates, are responsible for the content found on any external website links contained herein.

TIAA-CREF Tuition Financing, Inc., Plan Manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributor and underwriter for the Wisconsin College Savings Plan.

All social media platforms are managed by the State of Wisconsin.

529 Day Fast Facts

In recognition of 529 Day – May 29th – we’re sharing some quick facts about higher education costs, and about Edvest, Wisconsin’s official 529 College Savings Plan. (Get it? 5/29?) On to the facts!

The average monthly student loan payment for grads age 20 – 30 is $351.

That’s money that could be going to a car payment, rent, or savings for a down payment on a home. Saving now may really help their quality of life later.

Source: clevelandfed.org

Every $1 in savings is equal to $2 in student debt.

Repaying loans means repaying the amount borrowed plus interest. By contrast, your savings is just your savings and any earnings that may accumulate in your Edvest account is just more money that can go to higher education expenses. Learn more about saving versus borrowing here.

Another day you don’t save is a missed opportunity!

It’s as simple as visting Edvest.com and selecting Open an Account. Have your future student’s birthdate and social security number handy, and you’re ready to start saving. Questions? Just call us! College savings specialists are available Monday thru Friday, 7 am – 7 pm toll-free at 1.888.33.3789.

College savings for anyone.

You just need to be 18 years old with a valid social security number. That means you can open an account for your kid sister, child, grandchild, cousin, niece, best friend’s son…anyone. (Even yourself!)

Edvest is for tuition and more.

Yes, you can use Edvest funds for tuition. You can also use the funds for qualified education expense such as room and board, books, computers/tablets and Internet access, and more.

Go to the school of your choice.

Edvest doesn’t limit where your funds can be used. You can use your Edvest funds at public or private colleges, universities, technical colleges, graduate schools, or certificate programs in Wisconsin, out of state, and many schools abroad.

Edvest has tax benefits

Wisconsin residents who contribute to an Edvest account may be eligible to reduce their state taxable income. Any earnings on the account may grow tax-free. Plus, funds may be withdrawn free from state and federal taxes when used for qualified expenses.

Ready to celebrate 529 Day? Open an account or contribute to one now at Edvest.com.

Money Smart Week Wisconsin

Saturday, April 22, 2017 (All day) to Saturday, April 29, 2017 (All day)

Money Smart Week is a  week-long public awareness campaign by governmental and community organizations to promote the importance of financial literacy and help consumers better manage their personal finances through hundreds of financial education events and courses. More information on the Money Smart Week website. Learn more about a free Student Loan Assistance Event,  April 22nd  from 9 AM to 2 PM.

Tax Time and Super Funding

It’s Not Too Late! Take Advantage of Edvest’s Tax Time Benefits Today.

Although the April 18th tax deadline is quickly approaching, you still have time to contribute to an existing Edvest College Savings Plan account or open a new account to be eligible for a state tax deduction of up to $3,100 per child. Limitations may apply. See Plan Disclosure Booklet.

Enjoy Significant Tax Benefits while Saving for College!

Wisconsin residents, regardless of their relationship to a child, can reduce their state taxable income up to $3,100 per beneficiary per year. Meaning that if you have accounts for two of your children or grandchildren you may be eligible for a state tax deduction of up to $6,200. Three accounts… $9,300 and so on.

Plus, Edvest investment earnings grow tax-deferred and are tax-free at both the state and federal level when used to pay for qualified college expenses.

Carry Forward for Future Tax Benefits

Are you rolling over balances from another 529 plan or plan to make a large contribution from savings, inheritance or bonus? If your contributions are greater than the maximum state tax benefit, you may carry forward the balance until exhausted.

Want to Really Build your College Savings? Super Fund.

You might find you want to make a larger donation to a child’s account but you’re hesitant to commit. What will it mean for you during tax time? What are the implications to your estate? Don’t worry, you can give with confidence and it won’t adversely impact your tax situation. In fact, there’s no federal gift tax on contributions up to $14,000 per year for single filers and $28,000 for married filers.

If you wish to make a larger contribution, there’s an option to gift amounts up to $70,000 for single filers and up to $140,000 for married filers if pro-rated over 5 years. This means you could make a one-time gift equivalent to the 5-year amount and it could all qualify for the federal gift tax exclusion. Consult your tax advisor.

Why Save with Edvest?

As the cost of higher education continues to rise, it is important to start saving early. Today, $351 is the average monthly student loan payment for an American adult borrower, ages 20-30. $351.* The good news, however, is that, one dollar in college savings is worth about $2 of student debt, proving what many of us already know: it’s cheaper to save earlier than to pay debt later.

Saving makes a difference and Edvest makes it easy to do just that. Funds saved through Edvest can be used at colleges, technical schools and grad schools nationwide. Plus, funds may be used for books, supplies, or other qualified expenses – not just tuition. To learn more, visit Edvest.com or call 1-888-338-3789.

And remember, any Edvest account opened and funded before April 18, 2017 may still be eligible for 2016 tax benefits!

*Source: “Is there a student loan crisis? Not in payments.”, Forefront, May 16, 2016.

 

To learn more about the Wisconsin’s College Savings Plan, its investment objectives, tax benefits, risks, and costs please see the Disclosure Booklet at edvest.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. If the money isn’t used for qualified higher-education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.  Check with your home state to learn if it offers tax or other benefits for investing in its own 529 plan.

Taxpayers should seek advice from an independent tax advisor based on their own particular circumstances.

College Savings Resources for Educators

Edvest is pleased to be attending the 2017 Wisconsin State Education Convention for the fourth straight year. Conference attendees are welcome to stop by Booth 904 to learn more about Wisconsin’s official college savings plan. And if you’re not attending, here’s a quick reminder of your college savings resources:

Order free Edvest informational kits and brochures

Request a college savings speaker or an Edvest booth

Calculate college costs

Get the facts on Federal Student Aid

LookForwardWI.gov

College Savings Plan Network

Help us share the importance of saving for college among Wisconsin families! The Federal Reserve reports that as of March 2016, U.S. student loan debt is more than $1.3 trillion. However, saving for higher education expenses can help. It’s estimated for every $1 saved, you save $2 in student loan debt.

Edvest is Wisconsin’s 529 College Savings Plan designed to help families save for higher education expenses. It takes just $25 and 15 minutes to start an Edvest college savings account. Account owners can choose from 17 investment portfolios while enjoying one of the lowest cost 529 plans in the country along with in-state tax advantages for Wisconsin residents. Learn more at Edvest.com.

Edvest Receives 5-Cap Rating for Third-Straight Year

Edvest College Savings Plan is happy to announce that it received SavingforCollege.com’s 5-Cap Rating for Wisconsin residents for the third consecutive year! Edvest offers attractive plan features such as a Wisconsin state tax deduction, a wide range of investment choices as well as little to no fees, including no sales commissions, no annual maintenance fee, and no application fee. Edvest also received a 4.5-Cap Rating for non-Wisconsin residents.

“We are excited and quite honored to receive a 5-Cap Rating from SavingforCollege.com again this year,” said Jim DiUlio, director of Edvest. “This award recognizes the continued strength and stability of Edvest as one of the country’s leading 529 plans.”

Each year, SavingforCollege.com conducts a nation-wide review of 529 savings plans and assesses multiple factors like performance, cost and reliability. Receiving a 5-Cap rating is an incredible distinction as it demonstrates that a 529 plan like Edvest provide outstanding flexibility, attractive investments as well as additional economic benefits, such as state tax benefits.

*Source: Savingforcollege.com, December 1, 2016.The Edvest College Savings Plan received a 5-Cap Rating for Wisconsin residents and 4.5-Cap Rating for non-residents. A 5-Cap Ratings represents the attractiveness of a 529 plan, relative to all other 529 plans, by assigning an overall rating to each 529 program ranging from 1 Cap (least attractive) to 5 Caps (most attractive). 5-Cap Ratings represent an assessment based on many considerations such as flexibility, liquidity and availability, ownership rights, state benefits, investment approach and safety, program resources and financial aid impact. It is not strictly a measure of historical returns, and it is not a predictor of future investment performance, level of investment risk or financial solvency of the program funds. These ratings are not the result of a fixed formula and a significant portion of the analysis is subjective. Before establishing a 529 account and making contributions, it is imperative that investors read and understand all enrollment materials and disclosures from the programs.

Give the Gift of a Lifetime: A College Education

Every year shoppers line up outside of stores for hours with hopes of nabbing the latest and greatest holiday gifts for their favorite boys and girls. This year, skip the hassle and give the gift of education. Edvest College Savings Plan makes it easy to gift with these simple options:

  1. Give a new Edvest Gift Card, available for purchase at Edvest.com
  2. Invite family & friends to eGift directly into an Edvest account online, securely
  3. Write a check or open and fund an Edvest account


Just in time for the holidays, Edvest now offers gift cards available for online purchase. With denominations ranging from $25 to $500, gifts can be sent to your budding scholar via email, text message or as a physical card. Gift cards have no expiration date for redeeming the funds.

Another gifting option is Edvest eGift – a secure, online platform for friends and family to gift to a child’s 529 account at no charge. eGift now offers gifting codes that can shared via email and social media accounts and never expire! Friends and family can reuse the code as often as they like, making repeat contributions even easier. Users will also notice eGift’s new look with cleaner, more user-friendly interface and personalized gifting options for any occasion.

Those who wish to make a onetime gift to the 529 account via check can complete the simple gift deposit form and mail it with the contribution. If your child doesn’t already have a plan with Edvest, start a 529 account during the holiday season. It takes only $25 and 15 minutes to make a lifelong impact.

Tax advantages of gifting
Along with helping your child succeed, you’ll enjoy some tax advantages when you contribute to an Edvest account. If you are a Wisconsin resident, you may qualify for state tax advantages when you make a gift. (That goes for in-state family and friends, too.)

  • Edvest contributions by Wisconsin residents can reduce their state taxable income by up to $3,100 per beneficiary each year.
  • Any account earnings can grow federal and Wisconsin income tax-deferred.
  • Funds may be withdrawn tax-free when they are used for qualified higher education expenses.

Limitations may apply. See Plan Disclosure Booklet.

Morningstar: “Edvest College Savings Plan is a solid offering … for residents and nonresidents alike”

Edvest, Wisconsin’s 529 College Savings Plan, maintains Bronze rating from Morningstar Inc.

We’re very happy to announce that Edvest College Savings Plan once again received a Bronze rating, awarded by independent investment research and management firm, Morningstar, Inc. ™1 In their analysis, Morningstar noted Edvest’s breadth of investment options and the low costs associated with the plan during its annual review.

Investment Options

Morningstar’s analysis identified Edvest as a 529 plan that “pairs its actively managed risk-based portfolios with a set of primarily index based portfolios,” which meet the needs of both passive and active investors. Morningstar also commended the wide range of individual options offered, including the unique principal plus option with a guaranteed return of 1.25% through December of this year.

Low Costs

Morningstar specifically pointed out that Edvest is one of just a few states to offer such a wide variety of attractive investment options at such competitive prices. Edvest has no application, annual account maintenance, cancellation, change in beneficiary, or change in investment portfolio fees. Plus, the Plan’s annual asset-based fees range from as low as 0.00 to 0.43 percent. And of course, low fees can mean more money saved for higher education costs.

“We are always excited to receive recognition for our hard work here at Edvest,” said Jim DiUlio, Director of Edvest. “So much time and energy goes into maintaining a strong 529 plan like Edvest, which balances a wide variety of investments with low cost, creating value intensive plans for families looking to save for higher education.”

In addition to the Bronze rating, Edvest was recently ranked as the 529 plan with the 4th lowest fees in the nation by Strategic Insight.2 Learn more about the ranking here.

 

1In an annual review (10/25/2016) of the largest 529 college-savings plans (63 total), Morningstar identified 33 plans that rose above their typical peers, awarding those plans Gold, Silver, and Bronze Morningstar Analyst Ratings for 2016. These forward-looking, qualitative ratings signal Morningstar’s conviction in the plans’ abilities to outperform their relevant benchmark and peer groups on a risk-adjusted basis over the long term. Morningstar evaluates college-savings plans based on five key pillars–Process, Performance, People, Parent, and Price. For more information about Morningstar’s overview of Edvest go to 529.morningstar.com. Past performance does not predict future results. Source: http://news.morningstar.com/

2The Strategic Insight 529 College Savings Quarterly Fee Analysis (Q2 2016) is based on program descriptions and participating agreement documents gathered by a third-party research firm and analyzed by Strategic Insight. As part of the process, Strategic Insight analyzes the 529 program manager and state agency disclosure statements, press releases and organization websites to ensure data quality and categorization. The average minimum, maximum and total annual asset based fees at the plan levels are calculated via an un-weighted index average, or arithmetic mean method.