How Does Raise Education Work if I’m Planning or Pregnant?
Raise Education allows expecting parents and future guardians to start planning early for a child's education by setting up an account before birth. This ensures that savings and contributions begin accumulating as early as possible, maximizing long-term growth.
Key Benefits for Expecting Parents
- Early Financial Planning: Parents can create a Raise Education account before their child is born, allowing time for contributions and investment growth.
- Family and Community Support: Friends and family can start contributing early, helping build the education fund well before tuition expenses arise.
- Flexible Beneficiary Assignment: If a child has not yet been born or is not named, the account can be set up in a parent or guardian’s name and later transferred to the child.
- Tax-Advantaged Growth: Contributions benefit from tax advantages under the 529 plan model, meaning more savings for future educational expenses.
- No Immediate Spending Obligation: Funds can remain in the account until the child reaches school age or needs the funds for qualifying educational expenses.
Why It Matters
Starting early can significantly impact long-term savings potential. Raise Education empowers families to plan ahead, ensuring that future scholars have the financial support they need when the time comes.
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