Transform Your Tax Refund Into a College Future2015 | Admin | May 12, 2015 at 11:57 am
Now that tax season is upon us, use this time to review your college savings goals and take another look at your savings strategy. Saving now can make for a brighter future later. So, as you gather up your W2 and other tax-related materials, consider opening or making a contribution to a ScholarShare account. ScholarShare, California’s 529 College Savings Plan, can provide parents and relatives – anyone saving for a child’s college education – with valuable tax advantages.
Consider putting your tax refund to work in three simple ways:
- Have the Franchise Tax Board deposit some or all of your state tax refund into your ScholarShare account;
- Make a contribution electronically from your bank account; or
- Mail a contribution check directly to the Plan
For additional information about how to do more with your tax refund this year, visit
ScholarShare is proud to partner with California GEAR-UP, so we can work together to increase the number of students who are prepared to enter and succeed in college.
According to a 2013 survey by Hart Research Associates, 92% of parents considered getting a college degree worth it, but only 46% of parents have set up a dedicated savings or investment account for their child’s higher education costs. ScholarShare, recently awarded a Bronze metal rating by Morningstar, a prominent ratings agency, is administered by the state of California and managed by TIAA-CREF Tuition Financing, Inc. Named for the section of the internal revenue code under which they were created, 529 plans offer families a tax-advantaged way to save for college.