Ascensus, Inc., a leading service provider of retirement and college savings plans, reports that Ascensus College Savings’ Ugift® program contributions increased over 100 percent to $59.8 million in 2014, up from $27.1 million in 2013. The free and easy-to-use online service allows family and friends to gift money to 529 college savings plans, which are flexible and tax-advantaged accounts for qualified educational expenses.
Since its launch in 2007, contributions to the Ugift® program have continued to grow, with total contributions topping $150 million (as of 12/31/14).
“The tremendous increase in contributions to 529 accounts through our Ugift® program clearly signals saving for higher education is a priority for many families,” said Jeff Howkins, President, Ascensus College Savings. “Ugift® is designed to make saving and investing for college easier. The majority of these gift contributions are $100 or under, which indicates that families know that every dollar counts when trying to meet their college savings goals.”
All contributions gifted through Ugift® are directed to a beneficiary’s 529 college savings plan. Contributions can be made through ACH or by check at any time with no associated fees for the beneficiary or contributor. For more information on Ugift®, please visit www.ugift529.com.
About Ascensus
Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 6 million Americans save for the future. With more than 30 years of experience, the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers, and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 40,000 retirement plans and 3 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. For more information, visit www.ascensus.com.
For more information about any of the 529 college savings plans we administer please visit our website at www.ascensuscollegesavings.com. Please visit the State plan website to obtain the plan’s offering statement. Investment objectives, risks, charges, expenses, and other important information are included in a 529 plan's offering statement; read and consider it carefully before investing.
Please consider before investing in any 529 Plan whether your or the beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.
Each 529 Plan is administered and offered by the applicable State. Ascensus College Savings Recordkeeping Services, LLC, Ascensus Broker Dealer Services, Inc. and Ascensus Investment Advisors, LLC, (collectively “Ascensus College Savings”) provides some or all of the following services to each Plan: program management, day-to-day operations, including investment advisory, recordkeeping and administrative services, and marketing.
When you invest in a 529 plan you are purchasing municipal securities whose value will vary with market conditions. Investment returns will vary depending upon the performance of the portfolios in the Plan you choose. Depending on market conditions, you could lose all or a portion of your money by investing in a Plan. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.
Ugift is a registered service mark of Ascensus Broker Dealer Services, Inc.
