Even though Lydia isn't even a month old, we are already talking about her future. My husband attended the University of South Carolina for college, and I went to the University of California at Santa Barbara for undergrad. Obviously we both think she'll be attending OUR alma mater. School on the beach? School in the heart of the South with a stellar football team? Lets be honest, she'll have an amazing experience either way.
When planning for Lydia's future, one of the things that isn't up for debate…..is her college tuition. I was extremely lucky, my parents were able to pay for my undergraduate education. I don't think I realized how lucky I was, until I went to graduate school for my teaching credential. Hello student loans. Twelve years later, I'm still paying them off.
Recently, I had the pleasure of communicating with the team from ScholareShare. ScholarShare is California’s 529 college savings plan. Just as a 401(k) plan is to retirement savings, a 529 college savings plan is for college savings. With ScholarShare, anyone can open an account as a gift for a child or loved one. My favorite part? Through ScholarShare’s eGifting option, family and friends can make a contribution to an existing account…..what an awesome thing for family members to contribute too instead of birthday gifts!
I love that ScholarShare (managed by TIAA-CREF) is accessible to everyone. Being able to start saving with only $25? No excuses! The fact that all savings are tax free is an added bonus…….I mean, how could we NOT utilize this?