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Transcript of Www.arkansas529.org. Arkansas 529 Plan Committee Charles Robinson: Arkansas Treasurer of State Shane...
www.arkansas529.org
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
We know the benefit of education beyond high school.The question remaining:How do you pay for it?
Funding an Education Comes From a Number of Sources
Source: Sallie Mae – How America Pays For College
Percent of Students Who Must Borrow For College
Fund management by Vanguard InvestmentsPlan oversight by Acensus College Savings
Direct-sold plan accessible online
@www.arkansas529.org
Or by calling501-682-1406
• 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
• 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
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.
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
The Good News IsWith Proper Planning and Foresight
You Don’t Have
to Break the
Bank to Make
College Happen
Dale EllisArkansas College Savings Program Manager
Office of the Arkansas Treasurer of State501-682-1406