College Savings With The U-Nest App!
My son was born in 2003 and as new parents, we were not thinking about his future, but instead just about how many diapers we were going to need for the next week!
I accidentally stumbled upon information regarding college savings plans the next year, when talking to an old school friend. She had two young daughters and told me that she and her husband were saving money for their kids college through the NY 529 Savings Plan. I had no idea what this was, but quickly learned, because we wanted our son to have no worries about how he would pay for college. My spouse and I both ended up with loans that took 10 years to pay off. We didn’t want our son to graduate with that burden, and we wanted there to be enough money so that he had as many choices as possible for his higher education.
Thank goodness we started saving money for him! Did you know:
Student debt in the United States has reached a historic $1.5 trillion as college tuition continues to increase at a rate of 6% per year.
Only 14% of the market is taking advantage of 529 plans to save for college.
Of the 20 million households with children under the age of nine that can afford to save, 47% of these parents are not saving for their children’s college education.
The number one reason only 14% of parents take advantage of 529 plans is complexity and the time required to set up an account.
U-Nest is the ﬁrst app and college savings platform to solve this pain point.
Saving for college through a 529 Savings plan has several advantages:
The money grows tax free.
Some states allow you to deduct a certain amount of your contribution from your taxable income (in NYS. with a 10% tax rate, when we put away $5,000, we get back $500 from this tax deduction. Check your state for their specific tax law regarding this).
Tax free withdrawals!
U-Nest is on a mission to help all parents save and grow the money needed to fund their children’s education. With an easy-to-use mobile app that establishes and manages a 529 College Savings Plan in minutes, U-Nest gives families the tools they need to fund a comprehensive education savings plan. The U-Nest team has decades of experience as certiﬁed ﬁnancial advisors, ﬁntech technologists, and entrepreneurs. The company is based in Los Angeles, CA.
U-Nest is an intuitive & easy-to-use 529 college savings app. It simpliﬁes saving with a paperless, mobile approach that takes less than ﬁve minutes to set up, and:
Demystiﬁes 529 investing: new parents tend to be nervous about so many new things, this savings app is easy!
Tailored & automated savings: You choose amounts, you change amounts, you decide when deposits should be automatic: the U-Nest app securely links to your bank account to automatically transfer money each month into their child’s plan so that their child can pay for their education, debt-free.
With U-Nest you can adjust your monthly contribution at any time with the touch of a button.
This is Paperless: No additional filing system needed.
Easy for family & friends to contribute ( that takes the stress off of you).
One click gifts!
And when you want to see how much has been saved, just click on the App!
For more information, and a link to download the App, go to U-Nest.com: start saving today and watch your kids college fund grow!
Disclosure: This is a compensated post on behalf of U-Nest. All opinions are 100% our own.
Oh very timely! Thanks for this!
Amber Myers says
I need this app! My son will be in college soon, so this will come in handy. Then my daughter will be following along. I hope they decide to go to college and I’d like to have some money for them if they decide to do so.
I have been worried about his college education thinking that this is greatly to go Henry if I can save money for him even a little bit for college I would be very excited to help him try to get through this with less debt.
Sarah Bailey says
This sounds like such a great app! It is wonderful that it can help you make sure you are looking after college savings. It can really get so expensive!
i wish i would have had this when i was in college- i def keep it in mind for a few friends kids who are starting college in the fall- def a great app to use!
Sounds like something teenagers going to college and parents need to check out. Sound very useful and helpful.
Sounds like something all parents need if they are planning on sending their kids to college.
It is sad that people have to start saving for college the minute a child is born. This app is a great idea as it is very important to save for children’s college education.
This sounds like such a wonderful app. I have to look into using it. Love the benefits that it has.
Marcie W. says
We were able to start saving for our three kids soon after they were born, but keeping track of funds can get confusing. It seems as if U-Nest really simplifies the entire process.
Shelley Zurek says
UNest sounds perfect for your approach. All my kids are done thank goodness.
Deanna Straub says
Thank you for this awesome suggestion because it’s the best savings plan for the kiddo’s schooling.
This is awesome. I need to check this out to see if we can use it!
We had 529 plans for both of our kids. It really helped out when they went off to college.
Lisa Martin says
We have started saving for 2 of our kids college funds. I think it’s a great idea. They can use it for college , a trade school or simply cash it out once they reach a certain age if they don’t want to go to college.
Terri Steffes says
I love anything that helps us save for a child’s future! The UNest app sounds like one that parents should look into!
I need to pass this info on to my brothers and sisters! They have kids and you can never start saving for college early enough!
That seems to be an awesome app. It’s so useful and a great tool for savings!
Ruth I says
This app will help a lot. It would me wiser to save up now while they are young.
Shelley King says
This is great information! We have a 529 plan for our kids! We have been saving since the day they were born. I can only imagine what college is going to cost in 5-7 years when they go!
This sounds like a great app for parents. I’ll have to tell my husband about it.
Cant wait to try this out!