From K–12 to Trade School, Find Out How 529 Plans Can Cover a Range of Education Expenses!
Release Date: 08/15/2023
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info_outlineThe devil’s in the details, and it’s easy to get lost in them where money is concerned. Post–high school education is no exception, and it’s rarely made easy. From saving to taking out loans — and paying off said loans — the cycle seems downright Sisyphean.
Patricia Roberts, founder and COO of Gift of College and author of Route 529: A Parent’s Guide for Saving for College, gets it. And, with her expertise with education savings plans, she’s here to help you make the details and devil within work for you. Her company makes it easy for anyone to open an education savings plan online in a matter of minutes. Plus friends and family can contribute $25 to $200, and the funds don’t expire!
As a first-generation college student herself, Roberts knows the struggles many face when thinking about post–high school education. For Roberts (who’s also an attorney), specializing in the intricacies of 529 education savings plans was personal — she and her husband wanted to provide their son with choices not readily available to them.
Some myth-busting about 529 education savings plans:
Did you know they pay for a myriad of education-related expenses, such as K–12, trade schools, and college?
Many 529 plans have tax benefits — check your state.
The owner of the 529 plan can change the beneficiary to another family member — or use it for themselves.
Roberts also discusses diversity in the workplace and how far it’s come along since the 90s — but acknowledges it still has a ways to go, especially in traditionally male-dominated industries like financial services.
Save time sifting through different 529 resources and find the information you need in one fell swoop with Roberts’ insight. Learn about Roberts’ recent pursuits on LinkedIn and Instagram, and check out the hashtag #radicalgenerosity on Twitter for inspiration!
Find out who benefits from a 529, what can be done with the money, and more on this episode of SheVentures!
- Roberts discusses the lessons learned from her late mother and how crucial self-care is to long-term health.
- As a first-generation college student herself, Roberts reflects on the social and financial roadblocks she faced — and how she’s striving to ensure her son avoids the same pitfalls.
- From working in financial services to attending law school at night, Roberts’ early career and personal motivations led her to working with 529 savings plans (tax-advantaged education savings plans).
- How diversity in the workplace has evolved since the 90s, according to Roberts
- Corporate ladder climbing tips: Understand your motivation and your gifts, cultivate a community that supports you, and highlight your accomplishments when appropriate.
- How 529 plans are underutilized — plus Roberts’ tips for ensuring you reap the most benefit
- Through Gift of College (a college-savings platform started by Roberts), setting up a 529 plan can be as easy as buying a gift card.
- The differences and similarities between the 529 and the ABLE plan — and how each can best serve you
- Roberts debunks the biggest misconceptions surrounding 529 plans.
- Three skills that eased Roberts’ transition from the corporate world to entrepreneurship
- Roberts is active on LinkedIn and can be found on Instagram and Facebook at @route529mom. More information about Gift of College can be found at giftofcollege.com.