College Planning

Accepting Donations for Your Child's College Savings

If you want to send your kids to college, why not let friends and relatives help? There are services that allow them to donate to a 529 - and that's better than a pair of socks at Christmas, right?

Websites That Can Help Bolster Your Child's 529 College Plans With Donations From Friends and Relatives

You may be surprised by how many of your friends and family members will want to make a direct contribution to your child's education to help pay for college. Birthdays, holidays, graduations, and other celebrated milestones can be a great way for friends and relatives to make gift contributions to help start and build a 529 college fund for your child. 

Today, there are many different websites that make it easy for just about anyone to make a donation on behalf of a child, giving them a head start that they'll appreciate even more as years go by.

Contributing to your child's 529 savings plan

In some states, friends and relatives won't be able to gift directly to your child's 529 savings plan. However, there are websites that will allow them to make a donation into a savings account that you can transfer over to the 529 saving plan when you're ready.

GiveCollege.com is an online registry where you set up your child's individual profile and 529 college fund information, and contributions from family and friends are sent directly to the child's 529 college plan. GiveCollege.com also allows you to add events such as birthdays and graduations to your child's profile, as well as email invitations for fundraisers.

GiftofCollege.com is a social savings platform that creates a type of online community where you can share your child's hopes and aspirations, career plans, and college choices, as well as post their successes, milestones, and accomplishments. 529 contributions can be made online by credit card.

You can learn more about the benefits of a 529 College Fund in the Protective Learning Center.

 

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax‐related decisions. For information about Protective Life and its products and services, visit www.protective.com.

Companies and organizations linked from Learning Center articles have no affiliation with Protective Life or its subsidiaries.

529 College Savings

Knowing how much to save for college isn't easy. And with family and friends who would rather give the gift of making dreams come true instead of toys or games, why not make it easier for them to contribute to your child's 529 college savings. There are several websites that are making it easy for family and friends to contribute to your child's 529 college savings plan. For more information, visit the Protective learning center.

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