A College Degree will make a Difference in Your Grandchild's Life

For more information about the Utah Educational Savings Plan, visit www.uesp.org or call 800.418.2551.

A college degree can make a significant difference in income potential. With a college degree, your grandchildren could earn up to 50 percent more than those with only a high school diploma, according to the College Board. You can help your grandchildren save for their future college expenses, increasing the likelihood that they will graduate with a life-improving diploma. Start today by opening an account with the Utah Educational Savings Plan.

The Utah Educational Savings Plan is Utah's 529 college savings plan. By opening a UESP account, you are the account owner and maintain control of the assets, ensuring that the money will go toward funding your grandchild's college education. There are no minimum balance or deposit requirements.
The earnings from contributions grow tax-deferred and are exempt from Utah and federal income tax as long as the funds are used for qualified higher education expenses. Utah residents also receive a Utah state tax deduction or credit for contributions if the account is established by the beneficiaries 19th birthday.

For 2008, a Utah taxpayer may deduct up to $1,650 ($3,300 if filing jointly) per beneficiary, or receive a tax credit up to $82.50 ($165 if filing jointly) per beneficiary. Additionally, IRS Code Section 529 allows you to make a gift of $60,000 ($120,000 if filing jointly) to a single beneficiary in one year without creating a taxable gift if you treat the entire gift as a series of five equal, annual gifts.

Read the Program Description for more information and consider all risks, objectives, and expenses before investing. Call 800.418.2551 for a copy of the Program Description, or visit www.uesp.org.

Investments in UESP are not guaranteed by any state or federal agency. Your investment may lose value.

Non-Utahns should check their and their beneficiary's state's 529 plan for state tax or other benefits not offered through UESP.

The earnings portion of withdrawals used for nonqualified expenses is subject to federal income tax, any applicable state tax, as well as an additional 10 percent federal penalty tax.

Created January 10, 2008
The terms Utah Educational Savings Plan and UESP are registered trademarks.