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Luke Minor, Senior Director of Postsecondary Affordability, Washington Student Achievement Council

October 7, 2025

If there’s anything that drives me crazy, it’s earworms! You know – those insidious and hopelessly catchy pop songs pumped out of department store overhead speakers with reckless abandon? We’ve all fallen victim to them, and they typically have a knack for making us want to crawl out of our skin.

But every once in a while, one of these sneaky little buggers has a way of worming its way down into my heart to offer a serene moment where everything feels right in the world. A prime example is Semisonic’s classic alt-rock ballad, Closing Time. I’ve had that darn song stuck in my head for days on end, more times than I can count. Yet every time it comes on, I just can’t help but crank it up, bellow along, and enjoy a moment of glee.

It was fitting that Closing Time was released in 1998 – a year defined by the song’s closing line: “Every new beginning comes from some other beginning’s end.” In 1998, we experienced momentous “beginnings of ends” such as the Seattle Mariners’ last full season in the storied Kingdome and the sobering realization that it was the last year, we could party like it’s 1999 without it being weird and passé. It was also a time of “new beginnings,” such as the launch of a small and inconsequential tech company I’m sure you’ve never heard of…rhymes with “bugle…” But most importantly, to us 529ers here in Washington, 1998 saw the birth of Washington’s first 529 plan – the GET Prepaid Tuition Plan!

While I’ve always liked Closing Time, it was not until recently that I realized that it is, perhaps counterintuitively, an ideal theme song for raising kids and saving for college. Stick with me here. At face value, the song is basically about kicking people out of a bar at, well …closing time. Upon deeper reflection and consultation of the all-knowing Wikipedia, it turns out there’s more going on than meets the eye (err, ear?). For starters, it turns out that the song doubles as a metaphor for a baby being born into the world, as the songwriter was expecting a child while writing the lyrics.

And importantly, throughout the song, we are reminded that coming to an end – whether with something relatively inconsequential and seasonal like the end of summer, or a once-in-a-lifetime moment like high school graduation – doesn’t have to be a time of sadness. Any end is also an opportunity to prepare for a new world of possibilities.

Such is the goal of saving for college and raising a child. We all know time moves in the blink of an eye and only seems to accelerate as the years go by. Along the way, there are unforgettable moments of wonder and triumph as we churn through countless milestones marked simultaneously by tearful goodbyes and inspiring hellos. In the face of it all, it’s important that we take time to pause and reflect, not only to enjoy fleeting moments, but to set goals and take action with intentionality and optimism. [Insert shameless plug to remind you that a fantastic outlet for this intentionality and optimism is to start a 529 account for a child while they’re young and continue making regular contributions over time. It’s never too early to start saving!]

And with that, let’s close out with heeding Semisonic’s semi-philosophic advice that reminds us to plan ahead and support our students in all of their new beginnings to come: ♪♪ “Open all the doors and let you out into the world!” ♪♪

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About the Author

Luke Minor is the Senior Director of Postsecondary Affordability at the Washington Student Achievement Council. In his role, he oversees Washington State’s Education Savings Plans (WA529), which include the GET Prepaid Tuition Plan and WA529 Invest. Since 1998, tens of thousands of students have used more than $2 billion of their WA529 savings to attend colleges in all 50 states and at least 15 foreign countries. In his free time, Luke enjoys getting outside to hike and ride bikes with his wife and rambunctious kindergartner; being terrorized by his new half-border collie, half-velociraptor puppy; and of course, rocking ankle socks while jamming out to all of those late 90s and early 2000s alt-rock classics, in true millennial fashion.

As soon as Baby G was born, my husband and I decided that we needed to be the most prepared grandparents in the history of grandparents. Nana and Pops would win the game of responsible grandparenting and set our little peanut up for future success.

This responsibility worked itself out in a few very specific ways for us. We:

  1. Own the same stroller and car seat as G’s parents so that transport is never an issue;
  2. Stock diapers, wipes, and clothes so no “packing of the bag” is required to visit; and
  3. Opened our own 529 plan as soon as her parents had her Social Security number.

Now that G is the big 3, I can report that numbers 1 & 2 kept things easier for our family and removed stress from exhausted new-parent and eager-grandparent brains. Never having to worry about grabbing the car seat base or forgetting pj’s make hosting our now Big Girl a simple and smooth process.

Simple and smooth is also how I would describe opening our own 529 plan with our granddaughter as the beneficiary. We knew we wanted to select the investments and retain control of the funds, so we opened our own account very early. This has worked great for us, allowing a long-time horizon for her investments to grow. We anticipate a solid financial start, early conversations about education and career choices, and the satisfaction that she’ll have less student loan debt.

Most importantly, we’re modeling investing behavior across generations. While the trips to Disney are fun, we know that planning for her future with a 529 account is truly the ultimate grandparent flex.

About the Author:

Marissa Rowe is executive director of the Indiana Education Savings Authority, which administers the Indiana529 savings program with more than $8.4 billion in assets under management in three plans. A proud first-generation college student, Marissa received her B.A. in Mass Communication from the University of North Carolina at Asheville and her M.A. in Philanthropic Studies from the Indiana University Lilly Family School of Philanthropy. She paid off her student loans in 2020 and has 529 plans for her nieces and granddaughter.

By Jenn Dyck, Communication & Marketing Specialist, WA529

Memories of planning family road trips always come to my mind in the first weeks of summer. Preparing for an exciting adventure is a rewarding experience. I planned several fun-filled road trips when our kids were young – creating special memories our family will never forget. Recently, it occurred to me that saving for higher education may seem like a completely different task, but honestly, the two tasks are more alike than you might think. Road trips are often filled with laughter, spontaneous detours, and roadside treats, while a college savings journey requires financial planning, dedication, and long-term commitment. Yet, at their core, both are fueled by dreams, driven by hope, and shaped by meaningful preparation.

Choose the Destination

Every memorable road trip begins with a vision. Whether your family dreams of a cross-country drive to a theme park or exploring local attractions, families choose destinations that excite them. This first step builds hope and anticipation, giving everyone something to look forward to.

Similarly, saving for higher education begins with a dream. Students and their parents picture a future shaped by college degrees, technical or vocational training, or apprenticeship opportunities. Taking the step to save in a 529 plan supports different paths your student may choose and builds hope that they can pursue their dreams after high school.

Plan the Route

Mapping your road trip route includes carefully planning desired sights, rest stops, meals, overnight stays, and fuel stops. Families often weigh the pros and cons of adding time and money to take paths leading to specific sights and landmarks they want to see, compared to taking the fastest highways to their destination. Flexibility and budgeting are the keys to balancing family fun with trip finances.

When beginning their savings journey, families consider how much to set aside for their children’s dreams, what type of 529 plan to use, and how to balance education savings with other financial goals. Just like a road trip, dreams and desired paths may change along the way, but a carefully planned roadmap—saving what you can, when you can—helps your child reach their final destination.

Pack the Essentials

Smart road trippers pack strategically for their families’ needs—weather-appropriate clothing, food, snacks, entertainment for kids, emergency kits, and roadmaps. These essentials contribute to a smooth and enjoyable journey.

The same is true when hitting “Route 529.” Knowing the best financial tools is essential. From tax-advantaged 529 savings accounts to automatic payments and flexible spending options, families benefit from “packing” the right resources early on. Like a well-packed bag, 529 savings accounts reduce financial stress later. 

Stay on Course

Even well-planned road trips run into delays—traffic jams, closed attractions, road detours, or weather issues. Families often need to adjust their plans to stay on course and avoid unexpected obstacles. Keeping a positive attitude and making the best of these detours shows our kids how flexibility and dedication can lead to a successful outcome.

During your savings journey, life may throw curveballs—job changes, medical expenses, or unexpected downturns. Staying committed to saving, even small contributions, helps families move closer to their goals. Flexibility might mean temporarily adjusting contribution amounts and timelines. In the end, consistency pays off. Every dollar saved is a dollar not borrowed later. 

Share Experiences

Beyond the sights seen and photos taken, the road trip’s real value lies in the bonding moments—playing road trip games, singing in the car, or late-night talks at a hotel or campground. Often, road trips also involve enjoying time with extended family or close friends.

Saving for higher education dreams is also a family affair; family and friends are usually happy to be a part of your savings journey. Including children in their higher education savings efforts teaches them about responsibility, planning, and the value of investing in their future. Sharing dreams and group savings efforts create family bonding, just like a family road trip does.

The Destination

Arriving at your chosen destination isn’t the end of the road—it’s a new beginning of exploration and more memories in the making. All the planning efforts pay off. The time spent together as a family is priceless.

As the 529 savings journey comes to an end, a new one begins. When a child settles into a college campus, starts classes at a vocational school, or begins their apprenticeship for a dream job, years of savings and planning come to fruition. It is the beginning of their grown-up path, supported by a foundation laid by their family.

Let the Adventure Begin

Family road trips are measured in miles covered and memories made, and education savings are measured in time and dollars. Both represent powerful investments in experiences and opportunities. Planning for both requires a vision, dreams, flexibility, and commitment—ultimately providing rewards far beyond the desired destination. Watching my children graduate from college with very little student loan debt was well worth the time and effort spent saving for their futures. 

Whether you’re hitting the open road this summer or forging the path to your child’s dream, remember that preparing for the journey is just as important as the arrival. Your next great adventure starts with a single step! Explore the benefits of saving in a 529 plan in your state.

About the author:

Jenn Dyck is a Communication & Marketing Specialist for Washington Education Savings Plans (WA529). Jenn lives in the Pacific Northwest and is passionate about encouraging others to pursue higher education. Recently, she returned to college to complete her bachelor’s degree at the same time her two young adult children earned theirs. WA529 helps families save for educational expenses, with a vision of fostering a well-educated community by helping students and families overcome financial barriers to education and avoid future debt. WA529 offers families tax-advantaged 529 plan options to save for future college and career training expenses: the GET 529 Prepaid Tuition Plan and WA529 Invest Education Savings Plan. Visit 529.wa.gov for more information.

By Eric Bennett, College Countdown Editor, ScholarShare 529

June 17, 2025

Parents, here’s an important message for your rising seniors: This summer is not just for relaxing. Your teen should get things done. Help your student finish as much college application work as possible before senior year starts.

Tasks to complete before senior year:

  1. Family Discussion – Have a conversation about everyone’s expectations for college options. Has the current situation changed where your student is willing to attend? Have financial matters affected their choices? Ensure everyone is on the same page.
  2. Decide on Testing – Many colleges are continuing test-optional policies. Decide if your student wants to take or retake the SAT/ACT this fall. If strong scores are achievable and they have time to prep, taking the test could be beneficial. Otherwise, use the summer to strengthen other parts of their application. Know the testing policies for each college on their list.
  3. Letters of Recommendation – Many colleges require at least one letter from a high school teacher, usually from an 11th-grade core class. Encourage your student to ask for recommendations this spring or early summer. Reassure them that even if they only knew the teacher virtually, colleges want to hear how they adapted to new learning styles.
  4. Open a Common App or Coalition App Account – Have your student start filling out their application. Even if their college list isn’t final, they can complete the common sections over the summer (e.g., biographical info, school and coursework, activity list).
  5. Write the Personal Statement: Your student will need one main essay for the Common/Coalition App. Encourage them to start writing it now so they can focus on supplemental essays in the fall. Aim to have the personal statement finished before school starts.
  6. Narrow Down the College List: Your student may need to finalize their college list without visiting all campuses. Use virtual tours and events to research colleges. Aim to start senior year with a shortlist of colleges that meet their criteria and spread across the selectivity spectrum. The goal is a balanced list they’re excited about.

Completing these tasks over the summer will make the fall much easier for your Senior and give them more time to enjoy their final year of high school. Encourage them to get excited about next year. Working on things within their control is a positive reminder that the future is bright and they’re moving forward.

About the author: 

Eric Bennett is the editor for College Countdown, a website maintained by ScholarShare 529 for families with college-bound kids. Eric has over three decades of experience in higher education managing recruitment and marketing, financial aid, and student development at three universities from Georgia to California to New York City.  

By: Chris Scott, Manager of 529 Plans and Financial Education at the Arkansas State Treasurer’s Office

June 10, 2025

Fatherhood has taught me a lot – how to make dinner while helping with homework, how to deliver a dad joke under pressure, and how to mediate arguments about absolutely nothing like it’s a global peace summit. But more than anything, it’s taught me the value of showing up today while building for tomorrow.

Raising two kids around age 10, I spend a lot of time thinking about who they’re becoming and how different they are. My daughter is a creative visionary with zero regard for clean surfaces. She dreams of being an artist, a musician, and a doctor – all at once. That’s probably three degrees – and hopefully, a lot of scholarships, but her imagination is boundless.

My son? Just as bold. He wants to be both a professional gamer and a soccer star – a career that somehow combines footwork and Fortnite. Last year, he wanted to be a chef in a restaurant… on the moon. His career goals may be all over the place (and off-planet), but his curiosity is constant. He’s also fascinated by math theories that go way over my head.

Together, the three of us form a trio full of energy, dreams, and chaos. Their ambitions shift month to month, but my role doesn’t: to support them, believe in them, and help open doors to whatever future they choose.

And I’ve been thinking more about the pace of change lately. I’m closer to 40 than not, and part of the last generation to grow up without the internet in every pocket. I remember beepers and floppy disks. Then came dial-up, flip phones, smartphones, and now AI. My kids won’t know a world without Wi-Fi, and I have no idea what the world will look like when they’re adults. But I do know they’ll need options. They’ll need opportunities. And that’s something I can plan for.

That’s why I’m grateful for 529 plans – not just as a savings tool, but as a foundation for possibility. I’ve worked in the 529 space for nearly as long as I’ve been a dad. In that time, I’ve watched both my kids and these plans evolve in ways I couldn’t have predicted. My daughter’s gone from finger-painting the TV to composing her own songs. My son has gone from aspiring moon chef to the kind of kid who quizzes his orthodontist on algebra. 529s have grown too – covering apprenticeships, allowing rollovers to Roth IRAs, and keeping up with how education and the workforce keep changing. Neither my kids nor 529 plans are done changing, either.

Every contribution to their 529 accounts is an investment in their dreams – whether those dreams involve paintbrushes, stethoscopes, soccer balls, or space helmets. I’m not just saving for higher education. I’m saving for possibility.

This Father’s Day, I’m celebrating more than being a dad – I’m celebrating the chance to shape a brighter future where money doesn’t limit their potential, and where their wildest dreams have a real shot.

A 529 plan isn’t just a smart financial tool – it’s a powerful way to say: “I believe in you.”

About the author:

Chris Scott serves as the Manager of 529 Plans and Financial Education at the Arkansas State Treasurer’s Office, where he has been with the Arkansas Brighter Future 529 program since 2017. He also played a key role in launching the Arkansas ABLE plan in 2018, expanding savings opportunities for individuals with disabilities. With nearly a decade of experience spanning data analysis, relationship management, government relations, project management, marketing, strategic partnerships, and outreach, Chris is known as a trusted problem-solver and advocate in the 529 and ABLE space.

By Rachel Biar, Deputy State Treasurer for Savings Programs, Nebraska & Past Chair, CSPN

March 15, 2025

Cue the gowns and tassels: Graduation season is officially here!

Whether your loved one is graduating from kindergarten, elementary, middle school, or high school, he or she has achieved a milestone that is cause for celebration.

This year is a special year for my family as my oldest nephew graduates from high school this month. Like so many of you this time of year, I am amazed at how fast time flies. I still remember opening his 529 plan savings account when he was just a baby. It has been joyful to watch him grow, learn, and become an energetic, intelligent, driven, and kind young man. As we celebrate this special graduation milestone, he will receive an extra contribution into his 529 plan account to help prepare him for college this fall.

As you think about the graduates in your life while browsing the aisles searching for the right gift, consider a contribution to a 529 account. 529 plans make it easy to show loved ones how much you care. A 529 contribution can make a meaningful graduation gift at any age.

Kindergarten Graduates: Give the Gift of Time

In kindergarten, higher education may seem like a long way off. But one of the best gifts that you can give your young graduate is an early start on their college savings journey.

Simply put, saving for a longer stretch of time creates more opportunities to contribute and grow your savings. Because 529 account earnings are state and federal income tax-deferred, the full earnings amount remains in your account and grows with no money being subtracted to pay current tax obligations. Consequently, earnings happen more tax efficiently, helping to increase your account value even faster and maximize earnings potential associated with market growth.

Given the structure of compounded tax-deferred growth, it is in every kindergartener’s best interest to get an early start on his or her 529 plan account. This spring help your graduate build that base, and encourage friends and family to contribute as well.

Elementary and Middle School Graduates: Give the Gift of Motivation

Graduating elementary and middle schoolers are eagerly anticipating their next steps, whether that be middle school or high school. Dreaming about new classes, friends, activities and accomplishments, the future is full of limitless opportunities. Show these graduates that you believe in their future success, and that the sky is the limit, with a 529 gift contribution.

If your graduate is not familiar with the college savings process, a gift contribution is also the perfect spark for a conversation about the hard work and dedication that goes into achieving your dreams. He or she will spend the next few years preparing for higher education and beyond – with a gift contribution, demonstrate the crucial role that college savings will play.

High School Graduates: Give the Gift of Opportunity

Even at high school graduation, it is not too late to give the gift of college savings. After all, higher education brings a variety of expenses. 529 savings can be used to cover many of them, from tuition and fees to supplies, necessary technology, and even room and board. 

The more of these expenses new college students can cover with their 529 plan savings, the more they will be able to focus extra funds in other areas, such as building emergency funds, exploring the world, or saving for the future.

Regardless of a student’s age, higher education is a gift that will last a lifetime. To learn more about your 529 plan’s gifting options, find your state’s 529 plan at our link: https://www.collegesavings.org/find-my-states-529-plan and give the gift of education savings for all the graduates in your life who are taking the next step toward their futures.

When you do, like me, you will reflect on the memories made, you will celebrate your graduate’s achievements, and you will have a sense of pride knowing you have helped them in their education savings journey. And that is a special gift that will last a lifetime.

About the author:

Rachel Biar is Deputy State Treasurer for Savings Programs in Nebraska and serves as Past Chair of the College Savings Plans Network. In her role, she serves as the Director for the NEST 529 Education Savings Program. The Nebraska Educational Savings Trust (NEST) provides four plans: NEST Direct College Savings Plan, the NEST Advisor College Savings Plan, Bloomwell 529 Education Savings Plan, and the State Farm 529 Savings Plan. The Nebraska State Treasurer serves as the Program Trustee. Union Bank & Trust serves as the Program Manager, and all investments are approved by the Nebraska Investment Council. Families nationwide are saving for college using the NEST 529 plans, which have $7.1 billion in assets and more than 302,000 accounts. Visit NEST529.com and treasurer.nebraska.gov for more information.

When my nephew was born, I knew I wanted to do something meaningful for him—something that would matter years down the line. I didn’t want to give him another cute onesie or a toy that would end up in a donation bin. I wanted to give him a future. That’s why I opened a 529 prepaid tuition plan the week he was born.

It wasn’t flashy, and no one cheered when I signed up. But it was one of the best decisions I’ve ever made.

Thinking Long-Term From Day One

Like most people, I’ve watched the cost of college skyrocket over the years. Even public universities are now charging what private schools used to a couple decades ago. When I thought about my nephew’s future, I didn’t want him—or his parents—to be buried under the kind of financial pressure that I experienced while paying for my higher education. I figured, why not do something now, when college is still 18 years away, instead of waiting and hoping everything “works out”?

Why I Chose Washington’s GET Program

Several states operate fantastic prepaid plans, but since I live in Washington, the GET Prepaid Tuition Plan made total sense. It’s Washington’s own 529 prepaid tuition plan, and it allows you to buy “units” now that are guaranteed to keep up with the cost of tuition at the state’s public colleges and universities.

One of the things I really liked about GET is that it’s super simple: 100 GET units equals one year of full-time, undergraduate tuition and state-mandated fees at Washington’s highest priced public university, although it can be used anywhere! So, I know exactly what I’m buying. Plus, the plan is guaranteed by the state, which gave me even more confidence.

And even if my nephew ends up going to a private or out-of-state school, the value of those units can still be used toward tuition. It’s not limiting—it’s flexible, and that mattered to me.

It’s More Than Just Money

To me, this wasn’t just about saving dollars. It was about making a statement: “I believe in your future.” Even if my nephew doesn’t fully understand it now, I hope that when he’s older, he sees it as a sign that someone was rooting for him from the very beginning.

It also inspired conversations in our family about saving for education. His parents are now contributing regularly too. What started as a small gesture has turned into a team effort.

No Better Time Than Now

Starting a prepaid plan through Washington’s GET program when he was born was a no-brainer. The earlier you start, the more you can buy at lower tuition rates, and the easier it is to spread out the payments. College may be 18 years away, but time flies. I’m glad I didn’t wait.

Opening that plan didn’t just give me financial peace of mind—it gave me joy, knowing that I had planted a seed for something really meaningful.

About the author:

Daniel Payne is a Marketing and Communications Specialist who has been with WA529 for 11 years, helping families plan and save for higher education.

By Jørn Earl Otte, Hartford Funds’ Strategic Marketing Consultant for SMART529 in West Virginia

We all intuitively know that the more education our children can obtain, the better their chances for a higher-paying career. As your loved ones’ education increases, their potential for a higher salary does as well. It is also important to note that successful careers don’t always require a college degree. Skilled labor positions can provide an excellent income. The number of those positions continues to grow. And as it does, more well-trained skilled workers will be needed to fill those positions. However, almost all of them require some post-secondary education, and that education rarely comes free.

Unfortunately, as so many Americans have discovered, the dollar figures associated with getting a degree of any type can be astronomical. Higher education costs have skyrocketed over the last several years, and there’s no indication that that trend will change. As these costs become more prohibitive, families will seek to find more ways to remove or at least reduce that financial burden.

529 programs can be a source for families to save for higher education, however there are many misconceptions about what 529s can be used for, and when and where funds can be distributed.

Let’s dispel some myths and find a few facts about 529 plans – hopefully, these will help you and your family as you seek to fund your loved one’s future education:

Other important things to consider

It’s always smart to start saving while your child is young, as even small amounts saved on a regular basis can add up over time. But don’t be dismayed if your child is in middle school or even high school. Every dollar you save for them today is a dollar they won’t have to borrow from a lender tomorrow. Unfortunately, many people think that if they can’t save everything, why save anything? Instead of having an all-or-nothing attitude about savings, adopt a “something is something” outlook. It’s still worthwhile to save something for college, no matter how little or how much. Many students graduate with heavy debt that takes decades to pay off.

Even if you can’t eliminate student loans for your children, perhaps you can lighten the debt load for them after graduation. Perhaps your investment will pay for all of their books or may even be enough to cover one, two, or even three years of college for them. You can be proud of whatever savings you accumulate knowing that every dollar makes a difference for them and for you.

About the author:

Jørn Earl Otte is Hartford Funds’ Strategic Marketing Consultant for SMART529 in West Virginia. Please note that all of this information is provided here for educational purposes only, and is not intended to provide tax, accounting, investment, or legal advice. Please consult the appropriate professional should you have any questions regarding these issues.

Before investing, an investor should consider whether the investor’s or designated beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 plan.

For more information about any 529 college savings plan, contact the plan provider to obtain a Program Description, which includes investment objectives, risks, charges, expenses, and other information; read and consider it carefully before investing. Hartford Funds Distributors, LLC, serves as distributor and underwriter for some 529 plans.

By Lael M. Oldmixon, M.Ed. , is the Executive Director of the Education Trust of Alaska

February 11, 2025

My relationship with the 529 education savings industry started after the birth of my first child. I vividly remember pushing his stroller at the state fair and seeing a booth for Alaska’s education savings plan. The staff were at the fair to promote a scholarship account giveaway and educate the public about the state’s 529 program. My spouse and I strongly desired to do something but weren’t quite ready to commit to a savings tool. We were trepidatious about starting a 529 account and overwhelmed by the jargon, the risks, and frankly, by the feeling that we may be locked into something that didn’t give us flexibility and liquidity. That moment at the state fair provided us with a person to answer our questions, allay our fears, and coach us in taking the first steps to start a long engagement with 529s.

My relationship with the 529 education savings industry started after the birth of my first child. I vividly remember pushing his stroller at the state fair and seeing a booth for Alaska’s education savings plan. The staff were at the fair to promote a scholarship account giveaway and educate the public about the state’s 529 program. My spouse and I strongly desired to do something but weren’t quite ready to commit to a savings tool. We were trepidatious about starting a 529 account and overwhelmed by the jargon, the risks, and frankly, by the feeling that we may be locked into something that didn’t give us flexibility and liquidity. That moment at the state fair provided us with a person to answer our questions, allay our fears, and coach us in taking the first steps to start a long engagement with 529s. 

That was nearly 15 years ago. I am happy to report that our family’s relationship with the 529 industry has deepened and developed into a beautiful partnership. And now, with time in the rearview mirror and having learned so much more since taking the helm of Alaska 529 education savings programs, I say, “What’s NOT to love about 529s?!” 

Here’s what I love about 529s: 

  1. You can use your 529 accounts tax-free for education expenses wherever your loved one’s path takes them, including K-12 tuition, apprenticeships, vocational school, college, graduate school, loan repayment, and continuing education. 
  2. Most recently, congress added tax-free Roth IRA rollover contributions up to $35,000 if your account has been open for at least 15 years. 
  3. 529 accounts are flexible and can be used for SO many options. 
  4. Family and friends can gift education funds, which not only makes gift-giving easy but also meaningful. 
  5. With direct deposit contribution options, you can set it and forget it, making saving in a 529 something you don’t have to worry about each paycheck. 
  6. Most 529 accounts can be started with a small contribution, and many plans have incentives to encourage new accounts! 

What I love most about my 529 plan is that it offers me an opportunity to reduce the worry of debt, set my savings aspirations, and have realistic conversations with my kids about what we can afford because we saved. 

There is, indeed, a lot to love about 529 plans.

About the author:

Lael M. Oldmixon, M.Ed. , is the Executive Director of the Education Trust of Alaska, which offers Alaska’s three 529 plans, Alaska 529, the  T. Rowe Price College Savings Plan, and the  John Hancock Freedom 529. She lives in Alaska with her spouse, two children, and two dogs. 

By Trisha Good, Executive Director, Ohio Tuition Trust Authority

January 21, 2025

As we settle into the new year, is one of your resolutions improving your family’s financial health? If so, there are many ways for everyone to learn healthy money habits. Here are some ideas for how to save as a family and have fun while doing it.

Board games

Board games are a fun way to learn valuable life lessons. Choose ones that teach basic principles of personal finance, like the Game of Life, Pay Day, or Monopoly. Some games specifically focus on money management techniques like Cash Flow 101. For a more comprehensive list of board games to teach personal finance skills at different ages, this article lists 53 options. As your family plays these games together, your children can learn core financial concepts to help them in the future.

Books

Reading with your child or grandchild builds their language skills. Reading age-appropriate money books together builds their understanding of how money works and how they can make money work for them. It also allows them to ask questions of you, which can demystify talking about finances with them and can allow for more open communication. And reading these books together also allows you to brush up on your financial basics as well. Here are some money books with which to begin.

Learning how to save

If your children are young, introduce them to basic budgeting concepts with spend, save, and share jars. They can watch how Elmo from Sesame Street saves in those three jars. After earning money from their allowance or completing chores, talk to them about the value of saving now so they can use it later.

For teenagers, show them how to set up a budget to pay for their smartphone, buy gas, or save for their education after high school. Another idea is to give your teenagers money to get school clothes money once per year so they can choose how to spend the funds. This way, they can see how much or how little they can buy, depending on their own personal spending decisions. It’s better to learn what things really cost now to set their financial priorities better later in life.

Parent Magazine also offers guidance on money lessons to teach your children at every age.

Set and incentivize savings goals

Talk to your children about something they would like to have, like a new phone or video game. Then, help them come up with a plan to reach their savings goals. By breaking down their savings goals into small chunks based on their allowance or summer job, they can learn how to budget and then track their progress.

To keep them motivated, you can offer incentives for when they reach new levels with their savings goal. It can be something small like an ice cream cone if they are younger, or you can offer to pitch in a defined dollar amount once they have reached a certain percentage of their goal.

Saving in a 529 plan

Let your children know you are saving for their college and career training. You don’t need to share the dollar amount saved in your 529 account, but you should set your expectations with them–that they will be continuing their education after high school.

Research from the Institute for Higher Education Policy shows that when children know that there are college savings set aside for them, they are much more likely to expect to attend college. In fact, children with $1-$499 in college savings are three times more likely to attend college and four times more likely to graduate than those with no savings.

529 plans are for whatever school comes after high school for your children and grandchildren. Funds in a 529 account can be used tax-free for qualified higher education expenses at four-year colleges or universities, two-year community colleges, trade or vocational schools, apprenticeships, or certificate programs. So, your children can go to a school where their interests, talents, and skills lie.

To learn more about 529 plans, visit My State’s 529 Plan on College Savings Plans Network’s website to learn about all the tax advantages and benefits of saving in your home state’s 529 college and career training program.

About the author: 

Trisha Good is the executive director of Ohio Tuition Trust Authority. Since 1989, Ohio Tuition Trust Authority has sponsored and administered Ohio’s 529 College Savings Program, CollegeAdvantage. Ohio’s 529 Plan oversees more than 678,700 accounts and over $18.2 billion in assets as of December 31, 2024. Visit CollegeAdvantage.com or call 1-800-AFFORD-IT (233-6734) for more information.