Did you know that saving just 25 dollars each month when your child is a toddler can result in upto 10,339 dollars when they are ready for college.
In Today’s environment of Rising College Tuition Costs, a lot of parents wonder how they will be able to afford college education for their Kids. One solution that can help to pay for a university degree is a college savings plan from gradsave.com. Having a college savings plan would mean one less thing to worry about in terms of giving something to your children that would provide for great opportunity in their lives.
Basically, Gradsave.com is a college savings registry where friends, family and others can contribute directly to a child’s college savings plan. They can also purchase a College Savings Gift Card that can be redeemed at Gradsave.com for birthdays, holidays, and other celebrations. You can track your plan and watch it grow over the years. At any time, you can redeem the funds by linking your account to a 529 college savings plan.
A lot of friends and family members are interested in giving something practical instead of just toys & onesies and something that will stay with the child for a long time. Gradsave really makes it very easy for the friends and family members to contribute funds to your child’s college savings plan. They could contribute a bit over time, or could offer in a single lump sum as they may wish. You can distribute your child’s profile to interested parties via Social Media Platforms such as Facebook, Twitter, etc or via email. You can also provide them the website details the old conventional way, i.e. by phone or mail. They would be required to visit the GradSave.com to be able to contribute to your childs college savings plan.
Once the child has grown up to enroll in a university or college, they can then make use of the money to pay for their required expenses like books, college tuition, dorm expense etc. So long as the money is used for paying the qualified college expenses, all withdrawals from the plan is tax free.
How to setup a free registry account:
- Visit their website and Create your free account. Registration is Simple and FREE. You can quickly Sign up with your Facebook account or Sign up by filling your Name and email address. After you have registered, you can then create a profile for your child.
- Share the child’s profile with family and friends. Encourage friends and family to give your child the lasting gift of education.
- Receive Contributions – Friends and family can give a gift via your child’s profile page (and they will love that they are giving a meaningful gift). They can contribute money one time or over a period.
- Track Your Progress - Watch your college savings grow as you get closer to reaching your goals.
- Link Your 529 College Savings Account - GradSave isn’t a college savings plan, you can link your account to a 529 college savings plan at any time to redeem the funds. Before you transfer it to your college savings plan, the money is safely stored in a FDIC insured bank account with Bank of America.
- Pay For College - When the child heads off to college, you can use the money in the college savings fund to pay for college expenses.