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.