Kindle Fire, Amazon gift card up for grabs during 529 College Savings Day celebrations
State Treasurer Clint Zweifel says college savings and college affordability are focus for May
For Immediate Release
Monday, April 30, 2012
JEFFERSON CITY – State Treasurer Clint Zweifel (ZWY-ful) announced today that MOST–Missouri’s 529 College Savings Plan will sponsor a giveaway in May to celebrate 529 College Savings Day on May 29. Two lucky Missourians will each win a Kindle Fire and an Amazon gift card as part of an effort to spur discussion about college savings and its role in making college more affordable. Throughout May, Missourians can register for a chance to win at www.most529savings.com by clicking the Kindle Fire giveaway button.
“College savings is a crucial part of making higher education more affordable,” said Treasurer Zweifel, who sponsors MOST 529. “Celebrating 529 College Savings Day helps us spread the word about the MOST 529 Plan and get more Missouri families thinking about the future by saving now. Nationally, student loan debt is at about $1 trillion, and the average Missouri college graduate has $22,500 in student debt. Higher education is important to our economy and affordability is essential for families. Currently more than 130,000 families are saving an all-time high of $1.8 billion in the MOST 529 Plan. We need to keep growing those numbers, and spreading the word helps get that done.”
The contest runs May 1 to May 31. Missourians 18 or older are eligible to enter.* The two winners will receive a Kindle Fire with built-in wi-fi and access to books, publications, apps, games, movies and more. Each winner will also get a $50 Amazon gift card. Winners will be notified by phone on June 1 and announced on June 8. As with all MOST 529 Plan promotions, the contest is being run at no cost to taxpayers.
529 College Savings Day was created to raise awareness of one of the best ways families can prepare for their children’s futures – saving for higher education. The MOST 529 Plan allows account owners to save in a tax-favored investment account,** which can be used to pay for qualified higher-education expenses such as tuition, certain room and board costs, books and mandatory fees at most four-year colleges and universities, many two-year institutions, vocational schools and some schools abroad.
Missouri taxpayers who are account owners may deduct up to $8,000 ($16,000 for married couples filing jointly) in contributions each year when computing their state income tax; however, contributions may be subject to recapture in subsequent years if an account owner makes a nonqualified withdrawal.†
Please note that investment returns are not guaranteed, and you could lose money by investing in the Plan.
For more information about the MOST 529 Plan, visit www.most529savings.com or www.treasurer.mo.gov.
*Except employees and their immediate families and members of the same household of the sponsor (MOST—Missouri’s 529 College Savings Plan); The Vanguard Group, Inc.; Upromise Investments, Inc.; State Treasurer Clint Zweifel’s office; and their respective agents or affiliates.
**Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
† Contributions to the Plan in a tax year are deductible from Missouri state income tax up to certain limits.
If you are not a Missouri taxpayer, consider before investing whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.
The Missouri Higher Education Savings Program (the “Program Trust”) is a trust created by the State of Missouri. When you invest in MOST—Missouri’s 529 College Savings Plan (the “Plan”), you are purchasing portfolio units issued by the Program Trust. Portfolio units are municipal securities. The Plan has been implemented and is administered by the Missouri Higher Education Savings Program Board (the “Board”). Upromise Investments, Inc., and Upromise Investment Advisors, LLC, serve as the Program Manager and Recordkeeping and Servicing Agent, respectively, with overall responsibility for the day-to-day operations, including effecting transactions. The Vanguard Group, Inc., serves as Investment Manager for the Plan. Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., markets and distributes the Plan. The Plan’s portfolios, although they invest in mutual funds, are not mutual funds.
529 College Savings Day is a registered service mark of Upromise Investments, Inc. Vanguard is a trademark of The Vanguard Group, Inc. Used with permission. Kindle, Kindle Fire, and Amazon are trademarks of Amazon.com, Inc., or its affiliates. Kindle devices are given away on behalf of MOST—Missouri’s 529 College Savings Plan. Amazon is not a sponsor of this promotion.