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Saving in Ohio’s 529 Plan, CollegeAdvantage, comes with advantages, like tax-free earnings, tax-free withdrawals for qualified higher education costs, and a state income tax deduction for Ohioans who contribute to Ohio’s 529 Plan.
A huge advantage for family and friends is Ugift. Offered through Ascensus, our recordkeeping partner, Ugift is an innovative way to invite family and friends to save your children’s’ future college costs when celebrating holidays, birthdays, and special achievements with gift contributions to your CollegeAdvantage Direct Plan account.
Ugift makes it simple to have loved ones add to your child’s 529 plan without needing to share the actual account number. After logging in to your Ohio Direct 529 Plan, you can set up an Ugift code to send to our loved ones who would like to give the gift of a higher education. They can use the code one time, or use multiple times in the future.
Many Americans use Ugift to give generously to their loved ones 529 plans. Nearly $270 million was contributed nationwide to 529 plans through Ugift in 2019, with over a quarter of those gifts coming in November and December. Since the Ugift service was launched in 2007, over $1 billion in gift contributions have been made through this service!
Since November 2013, loved ones have contributed over $105 million to Ohio’s Direct 529 Plan accounts with Ugift. This is an amazing amount of generous gifts that have been given for children’s future higher education! This number also illustrates the generous nature of Ohioans, whose Ugift contributions make up more than 10 percent of the nation total.
Ohio’s 529 Plan is pleased to offer this simple and easy way for families and friends to come together to support the next generation and their future education. These gifts are a loving legacy that can change the course of a child’s life.
Someday your child is going to college. Someday starts at CollegeAdvantage.com.
Posted on February 5, 2020