www.arkansas529.org. arkansas 529 plan committee charles robinson: arkansas treasurer of state shane...
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www.arkansas529.org
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Arkansas 529 Plan CommitteeCharles Robinson: Arkansas Treasurer of State
Shane Broadway: Interim Director-Arkansas Department of Higher Education
George Hopkins: Director-Arkansas Teacher Retirement System
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We know the benefit of education beyond high school.The question remaining:How do you pay for it?
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Funding an Education Comes From a Number of Sources
Source: Sallie Mae – How America Pays For College
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Percent of Students Who Must Borrow For College
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Fund management by Vanguard InvestmentsPlan oversight by Acensus College Savings
Direct-sold plan accessible online
@www.arkansas529.org
Or by calling501-682-1406
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• Tax deferred earnings growth at the Federal and State level
• Federal Gift Tax Exclusion may apply for some contributions
• State of Arkansas offers deduction from income up to $5000 ($10,000 for married couples) for contributions into the GIFT or iShares 529 Plans
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• Enrollment is easy and minimum contribution levels low to enable saving at virtually any income level– $10 minimum for auto draft to check or savings– $5 minimum for direct deposit to your account
from your paycheck– $25 minimum for lump sum deposit
• Enroll online through the secure application form at www.arkansas529.org or by mail
• Print forms right off of the website or call 501-682-1406
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There’s no need to talk about it. My child just isn’t cut out for college.
So, how about a few reasons NOT
to save for college?
You said time makes this work and my child is older so it’s hopeless.
I can’t possibly save enough to pay for college so I may as well forget it.
I don’t need to save because my child is getting a free ride. She has a 4.0 GPA.
But this is the stock market and I don’t want to lose my money!
Why save? I didn’t go to college and I get by just fine.
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To help lower to moderate income families save for their childrens’ education, Arkansas lawmakers passed legislation enabling the Aspiring Scholars Matching Grant program in 2007.
•Families making less than $30,000 a year AGI can qualify for a two-for-one match up to $500 for as many as five years placed into a GIFT Plan account• Families making $30,000 to $60,000 a year AGI can qualify for a one-for-one match up to $500 for as many as five years placed into a GIFT Plan account
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The Good News IsWith Proper Planning and Foresight
You Don’t Have
to Break the
Bank to Make
College Happen
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Dale EllisArkansas College Savings Program Manager
Office of the Arkansas Treasurer of State501-682-1406