Missouri rolls out gift program for college savings plan
College-bound Missourians can kick start their savings with a new program called Ugift that allows online gifts to a tax-advantaged savings plan.
Missouri Treasurer Sarah Steelman is kicking off the program on Thursday, May 29, in a play on the date and the Missouri Savings for Tuition program, which is a 529 college savings plan.
Upromise Investments Inc. is the program manager. Vanguard Group and American Century Investments are the investment managers.
Account owners can send invitations via e-mail or print gift coupons that family and friends can use to make contributions in honor of a birthday, holiday, graduation or other occasion. The minimum gift amount is $25.
Steelman said, “It is my goal to help every Missouri family be able to afford college or trade school, so that every child has the best opportunities for success we can give them. A college savings account is one of the most meaningful gifts anyone can give.”
More information on the program is available at www.missourimost.org or by calling 1-888-414-6678.
I started a company that lets anybody in your circle of friends and family gift directly into your child’s 529 plan. So instead of another Barbie Doll or shirt from the Gap people can gift into your child’s plan. It’s a simple site and concept that helps people save for college and give meaningful gifts. The site is http://www.freshmanfund.com
I also write a blog on saving for college the site is http://www.giftingforcollege.com