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:
- Give a new Edvest Gift Card, available for purchase at Edvest.com
- Invite family & friends to eGift directly into an Edvest account online, securely
- 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- Funds may be withdrawn tax-free when they are used for qualified higher education expenses.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.