Utah Educational Savings Plan

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.

Early savings result in better returns

Assumes a 5% annual rate of return compounded monthly and no initial contribution. This chart is to be used for illustrative purposes only.

Contribution Methods

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 One-Time or Recurring 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 form. 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.


Important Legal Notice

You should read the Program Description and consider all investment objectives, risks, charges, and expenses before investing. The Program Description is available for download on the web or a hard copy can be mailed to you by requesting it online here.

FDIC Insurance. Except for the underlying investment specified below, investments in UESP are not insured by the Federal Deposit Insurance Corporation (FDIC). FDIC insurance, up to applicable limits, is provided for the FDIC-insured accounts held in trust by UESP at Sallie Mae Bank and U.S. Bank National Association (U.S. Bank) (collectively Banks). Contributions to and earnings on the FDIC-insured accounts are allocated between the Banks according to the following percentages: Sallie Mae Bank (90 percent) and U.S. Bank (10 percent). Money in the FDIC-insured accounts is insured by the FDIC on a pass-through basis to each account owner at each Bank up to the maximum amount set by federal law, which is $250,000. The amount of FDIC insurance provided to an account owner is based on the total of (1) the value of an account owner’s investment in the FDIC-insured account at each Bank plus (2) the value of other accounts held (if any) at each Bank, as determined by the Banks and by FDIC regulations.

No Other Insurance and No Guarantees. Investments in UESP are neither insured nor guaranteed by the State of Utah, UESP, the Utah State Board of Regents, the Utah Higher Education Assistance Authority, other state agencies, federal government agencies (except to the extent noted above regarding FDIC insurance), or any employees or directors of any such entities. Units in UESP have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

Account Value. The value of your UESP account may vary depending on market conditions and the performance of the UESP investment option you select. It could be more or less than the amount you contribute; in short, your investment could lose value. However, subject to the application of the rules and regulations of the Banks and the FDIC to each account owner, money in the FDIC-insured accounts will retain its value, whether in the FDIC-Insured investment option or when allocated to portions of another investment option that have the FDIC-insured accounts included as an underlying investment.

Non-Utah Taxpayers and Residents. You should determine whether the state in which you or your beneficiary pay taxes or live 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.