Saving for college brings peace of mind
Almost two years ago, my husband and I experienced the life changing event that was the birth of our first child. Our daughter had the good fortune of being born on May 29, 5-2-9 Day. It is a day set aside to recognize and promote 529 college savings plans. Here in South Carolina, the State Treasurer’s Office celebrates National 529 Day by awarding a $529 grant to every child born in South Carolina on May 29.
My husband and I had spent nine months getting a nursery ready and dreaming about our daughter’s future. Of course, that future included college, but I had never really thought about how we were going to pay for it. I didn’t know anything about 529 college savings accounts, but when the nurse told us our daughter was eligible for a grant and gave us the papers to sign up for a Future Scholar account, we decided it would be the perfect kick start toward the goal of our little baby someday attending college.
We didn’t know that we could have started the account with any amount of money, but we read up on South Carolina’s 529 Plan and learned that Future Scholar is top-rated and has earned positive reviews from the Wall Street Journal and Money Magazine. Over the last year, we’ve let family members and friends know that we are trying to grow our daughter’s account, and many of them have contributed to the account instead of giving her just one more toy.
In addition, we have begun making monthly contributions on our own! It is very easy to contribute, and there are many ways to add to the account. What I didn’t realize when we began this journey is that doing something toward paying for our daughter’s college expenses would give us a little peace of mind and pride, too. It makes my husband and I feel good that we are being proactive in helping our daughter have the best future possible.
We know college isn’t going to get any cheaper, and we like knowing we are thinking ahead to make it easier for her to fulfill this dream we have for her. Someday she’ll understand what we did for her, but for now, it’s comforting to know that we are helping to put her in a position to succeed. I really think South Carolina has a great plan to help families save for college, no matter how old their child is. I hope more families will do what we did. It will make them feel good to have dedicated savings for their child’s college expenses, and it is very easy to open account. You can read about the Future Scholar 529 Plan at www.futurescholar.com