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A savings account for Latino students. Photo: Pixabay.

ScholarShare 529: Families are encouraged to open a college savings account

Institution joins the celebration of Hispanic Heritage Month.

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In addition, the independence anniversaries of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Mexico and Chile are taken into account.

ScholarShare 529, California’s official college savings plan, invites all communities to invest in higher education opportunities. 

Julio Martínez, Executive Director of the ScholarShare Investment Board, stated:

If we want a bright future for California, we need to ensure members of our Latinx community have access to higher education.

Low Figures Accessing Higher Education

The organization highlights a recent report by the Campaign for College Opportunity, which shows that Latino Californians' college attendance has increased from 28% to 40% among residents ages 25-64 over the past decade.

It also highlights how, despite being the largest ethnic group in the state, Latino adults in California still have the lowest levels of college attendance, with lack of financial support standing out as one of the main barriers mentioned.

“Parents, guardians, and loved ones can help break through this major barrier by opening a ScholarShare 529 college savings account to help students they care about save money to help attain their higher education goals,” pointed out ScholarShare 529.

Simple Process

To access these opportunities, you can open an account at www.ScholarShare529.com by completing an enrollment form. This whole process is simple and free.

Accounts can be opened in any dollar amount, set up in just 15 minutes, and can be easily managed online or by mail.

Once a new account is opened, a Ugift code is generated, which can be easily shared with family and friends via email, Facebook, Twitter or other methods, allowing loved ones to contribute any amount at any time by depositing money directly into the account.

“Parents, grandparents, godparents - anyone can open a ScholarShare 529 account and start investing in their loved one’s future,” added Martínez.

ScholarShare has Spanish language information and assistance available online at ScholarShare-espanol.com or by calling 1-800-544-5248. Also, there is a FB page in Spanish to stay updated.

About ScholarShare 529

Managed by the ScholarShare Investment Board, ScholarShare 529 provides families with a valuable tool that offers a diverse set of investment options, tax-deferred growth, and state and federal tax-free withdrawals when used for qualified higher education expenses, such as tuition and fees, books, certain room and board costs, computer equipment, and other necessary supplies.

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