Eight $1,000 UESP college savings scholarship accounts to be awarded to Utah students
In observation of National College Savings Month in September, the Utah Educational Savings Plan (UESP) and Step Up Utah will award $1,000 UESP college savings scholarship accounts to eight Utah students in kindergarten through 12th grade chosen for their winning entries in the “Make Your Mark” Bookmark Contest.
A panel of four judges that includes Utah Gov. Gary Herbert and First Lady Jeanette Herbert will select two winners from each of four grade categories in the “Make Your Mark” contest sponsored by UESP and Step Up Utah.
In addition to receiving $1,000 UESP college savings scholarship accounts, the winners also may see their professionally reproduced bookmark designs handed out at UESP events around Utah.
Now in its sixth year, the “Make Your Mark” contest helps encourage Utah families to save for future qualified higher education expenses. Earnings in UESP college savings accounts grow tax-deferred and withdrawals are tax-free if used for eligible higher education expenses such as tuition; mandatory fees; required books, supplies and equipment; and certain room-and-board costs at any eligible education institution in the United States or abroad that participates in federal financial aid programs for students. Utah taxpayers and corporations are also eligible for a 5 percent Utah state income tax credit or deduction for contributions up to a certain amount.
“I encourage all Utah families to save for their children’s higher education. As Utah integrates into the global economy, an educated workforce will keep the state at the front of the line for innovation,” Herbert said.
Lynne Ward, executive director of UESP, said the “Make Your Mark” contest helps remind Utahns to save for college or technical school. “While it’s better to start saving as soon as possible, it’s never too late to open a UESP account,” Ward said.
“Even small amounts saved regularly can add up to a sizeable sum,” she said. “Money saved is money that students won’t need to borrow and repay with interest.”
The contest is open to any Utah student in kindergarten through 12th grade who is enrolled in a Utah school or home-schooled. Parents are not required to own a UESP account.
The contest runs from Tuesday, September 1, 2015, to Wednesday, September 30, 2015. Each contestant must submit his or her bookmark design on the official UESP and Step Up Utah entry form, available at uesp.org/bookmark. Only one entry per student is allowed. Winners will be notified by October 26, 2015. All decisions by UESP and the judges are final.
“The contest is an opportunity for students in all grades and in all corners of Utah to showcase their imagination. We hope that any student thinking about higher education will submit an entry,” UESP’sWard said.
UESP must receive all entries no later than September, 30, 2015, at 5:00 p.m., Mountain Time. Entries can be submitted by mail, courier, or hand delivery. Address information and a complete set of contest rules and restrictions are printed on the back of the official entry form.
UESP, Utah’s official and only nonprofit 529 college savings plan, is highly recommended by Morningstar Inc., Kiplinger’s Personal Finance magazine, Money magazine, CBS MoneyWatch.com, and consumer expert Clark Howard for its low fees and industry innovations such as its customized investment options.
Accounts are free to open, and UESP requires no minimum deposit or account balance. UESP’s user-friendly website, uesp.org, makes it easy to open, manage, and contribute to an account online.
About Step Up Utah
Step Up Utah is a social awareness campaign by the Utah System of Higher Education to increase the college participation of Utah students. The Step Up Utah campaign is made possible by a College Access Challenge Grant from the U.S. Department of Education. To learn more, visit StepUpUtah.com.
Read the Program Description for more information and consider all investment objectives, risks, charges, and expenses before investing. Call 800.418.2551 for a copy of the Program Description or visit uesp.org.
Investments in UESP are not guaranteed by UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority (UHEAA), or any other state or federal agency. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-insured accounts. Please read the Program Description to learn about the FDIC-insured accounts. Your investment could lose value.
Non-Utah taxpayers and residents: You should determine whether the state in which you or your beneficiary pays taxes or lives offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP. You should consider such state tax treatment and benefits, if any, before investing in UESP.