The US News and World Report recently featured a Durham, NC grandfather who is helping his family save for college. Instead of giving physical gifts during the holiday season, he is contributing money to his grandson’s college savings plan each year. And, he’s not alone. According to the article, 84% of parents would prefer that their children receive money for college in place of physical gifts during the holidays.
During the holidays and on special occasions, it’s fun to spoil the children in our lives. Twenty-five dollars can buy a variety of gifts – balls, gift cards and games. As WFMY notes, it can also give the gift of education.
That’s because you can contribute to an NC 529 Account with as little as $25. Money saved in an NC 529 Account can be withdrawn to pay for qualified higher education expenses.