Ways to Contribute
With college costs on the rise, you should begin planning for the future as early as possible. Saving now, even just a few dollars each month, can help make a college education more affordable for any child. To help you maximize your savings, we’ve outlined some options that may help.
Start Early—529 Savings Add Up
To provide your child with the tools to get the education he or she deserves, remember to start early. By making contributions while your beneficiary is young, you may maximize the potential benefits associated with your investment.
The graph shown above assumes a 5% annual rate of return compounded monthly and varying monthly contributions. This graph does not consider the impact of any potential state or federal taxes on any portion of the investments, earnings, or withdrawals. This graph does not consider the impact of any applicable fees. Neither the State of Utah nor UESP offers any guarantees concerning any rate of return and performance of any UESP accounts. This chart is to be used for illustrative purposes only.
UESP offers a range of options to make it easy for you to contribute to your college savings account. Contributions can be made by the following methods. To find out more about a contribution method, click on the title below to display more information:
Checks should be made payable to UESP and mailed to:
- Utah Educational Savings Plan
- PO Box 145100
- Salt Lake City, UT 84114-5100
Be sure to include the UESP account number and beneficiary’s name on the check.
You can contribute to your account according to your own schedule, whether that means once a month or once a year. One-time automated contributions may be completed by clicking here
. Once you log in to your account, you will be asked to provide your checking or savings account information and can choose any business day within the next 30 days for the contribution to occur.
You may find it easier to reach your education savings goals by establishing a plan that allows you to make automated contributions from your checking or savings account. When you save consistently, your savings add up and you can average the cost of your investments. Establish recurring automated contributions through Account Access
or go to the Automated Contributions Authorization/Change form
to set up a contribution method that is right for you.
Automated payroll contributions are available with employers that allow direct deposit of payroll funds. You can enroll in payroll contributions by logging in to your UESP account online
or by completing the Payroll Contribution Agreement
. Click here
to learn more about payroll contribution.
Payments from bank or credit union electronic bill pay services are accepted. These payments originate from the financial institution and are sent to UESP.
Wire transfers must be initiated by your own financial institution. The UESP Wire Transfer Notification form
must be completed in addition to any forms that your financial institution may require.
Account owners can easily mark a special occasion that comes around each year—whether it be a holiday, a birthday, or another special day—with an annual online contribution to a beneficiary’s UESP account. On the appointed day, funds are automatically pulled from the checking or savings account specified. One week before the contribution is scheduled to be pulled, the account owner will receive an e-mail reminding them of the upcoming contribution. Set up special occasion contributions through Account Access
Give a Gift for the Future
When your family, friends, and neighbors ask what your child wants for his or her birthday or for the holidays, ask them to contribute to your child’s education. Instead of another T-shirt or toy, they might prefer to give something that could provide assistance year after year. Your friends and family can make a check payable to UESP. Be sure to have them include the beneficiary's name and UESP account number on the front of the check.
Anyone can contribute to a UESP account; however, only the account owner/agent can (1) control how the assets are invested and used, and (2) claim tax benefits related to the account, regardless of who contributed to it.
To simplify your gift giving, download a UESP Gift Notice. Complete the Gift Notice and give your beneficiary the bottom portion to let him or her know you made the contribution. Complete and send the top portion with your contribution to UESP.