Utah Educational Savings Plan - About Us

Utah's 529 Plan

529 plans are tax-advantaged savings vehicles designed to encourage individuals to begin to save for the future costs of higher education. The Utah Educational Savings Plan (UESP), a nonprofit trust fund, is the official and only 529 plan established and sponsored by the State of Utah. You do not have to be a Utah resident to participate in UESP. UESP is a direct-sold 529 plan, which means you can set up an account and make contributions by dealing directly with UESP.

Benefits of 529 Plans

Tax Benefits

Earnings on investments in UESP accounts grow federal and Utah state income tax deferred. As long as the funds are used for qualified higher education expenses of the beneficiary at an eligible educational institution, withdrawals from an account are exempt from federal and Utah state income taxes.

Qualified Higher Education Expenses

Funds in your UESP account can be used for qualified higher education expenses, including:

  • Tuition and fees
  • Books, supplies, and equipment required for enrollment or attendance
  • Room and board for students who are enrolled at least half-time

Qualified Educational Institutions

Funds can be used at any college, university, or technical school that participates in federal financial aid programs for students in the United States or abroad (not only institutions in Utah). Visit fafsa.ed.gov for a list of eligible schools.

Utah State Income Tax Credit

Utah residents who save with UESP may qualify for a Utah state income tax credit.

If you are not a Utah taxpayer or resident, please see if the state where you or your beneficiary live or pay taxes offers a 529 plan that provides state tax or other benefits not otherwise available to you by investing in UESP.

Benefits of UESP

Investment Options

UESP offers 14 investment options, including four age-based, eight static, and two customized investment options. Each investment option provides a different style of investment and different level of risk.

Minimum Investment

No minimum investment is required to open or maintain a UESP college savings account.

Utah Taxpayer/Resident Benefits

A Utah taxpayer/resident receives unique benefits for participating in UESP, including: