Virginia529 to Award More Than $10,000 in College Savings Accounts to 20 Virginia Newborns

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Virginia529 College Savings Plan is awarding $529 accounts to 20 babies born May 29, 2013. The initiative is part of 529 College Savings Day, a national campaign to raise awareness about the importance of saving for higher education through tax-advantaged 529 plans.

Virginia529 College Savings Plan
There’s a disconnect between the value of education and the reality of the costs. Virginia529 helps families find ways to make college more affordable and accessible.

An estimated 300 babies will be born in Virginia tomorrow. The 20 lucky enough to be born closest to 5:29 p.m. at participating hospitals will start off their new lives with Virginia529 college savings accounts valued at $529.

To raise awareness about the importance of saving for higher education through tax-advantaged 529 plans, Virginia529 College Savings Plan (Virginia529) is celebrating May 29 (5/29) - National 529 College Savings Day - by, among other special events, awarding Virginia529 inVEST accounts to this group of 529 Day babies.

“According to a recent survey, 88 percent of parents believe it is important for their children’s future to attend college,” said Mary G. Morris, CEO of Virginia529. “Yet, most are not regularly saving for higher education costs. There’s a disconnection between the value of education and the reality of covering the costs. Virginia529’s mission is to help families find ways to make college more affordable and accessible.”

To focus families on the importance of starting early to save for future higher education costs, Virginia529 and hospitals across the Commonwealth are partnering in the 529 Day baby contest. Participating hospitals, where babies born on May 29, 2013 are eligible for the giveaway, include:

  • Centra Southside Community Hospital, Farmville
  • Clinch Valley Medical Center, Richlands
  • Fauquier Hospital, Warrenton
  • Henrico Doctors’ Hospital, Richmond
  • Inova Alexandria Hospital, Alexandria
  • Inova Fair Oaks Hospital, Fairfax
  • Johnston Memorial Hospital, Abingdon
  • Martha Jefferson Hospital, Charlottesville
  • Norton Community Hospital, Norton
  • RMH Healthcare, Harrisonburg
  • Sentara Leigh Hospital, Norfolk
  • Sentara Norfolk General Hospital, Norfolk
  • Sentara Northern Virginia Medical Center, Woodbridge
  • Sentara Obici Hospital, Suffolk
  • Sentara Princess Anne Hospital, Virginia Beach
  • Sentara Williamsburg Regional Medical Center, Williamsburg
  • Southampton Memorial Hospital, Franklin
  • VCU Health Systems, Richmond
  • Warren Memorial Hospital, Front Royal
  • Winchester Medical Center, Winchester

Not pregnant but still interested in winning a Virginia529 college savings account? Enter Virginia529’s 529 College Savings Day Giveaway for a chance to win one of two $5,000 college savings accounts. You can learn more and enter online at Virginia529.com/529day through May 31, 2013.

With the cost to attend college rising on average at twice the inflation rate, saving through tax-advantaged 529 plans helps reduce the financial burden on students and their families. Contributions grow free from state and federal income taxes when used for qualified higher education expenses and Virginia taxpayers are entitled to deductions for state income tax purposes for their contributions. Virginia529 offers four tax-advantaged college savings programs that can be used at eligible public and private colleges and trade schools worldwide.

Learn more about 529 Day events and contests at Virginia529.com/529day.

About the Virginia529 College Savings Plan:
Virginia529 is a 529 college savings plan that offers flexible, affordable, tax-advantaged savings for qualified higher education expenses through its four programs – Virginia529 prePAID SM (prePAID SM), Virginia529 inVEST SM (inVEST SM), CollegeAmerica® and CollegeWealth®. With over 2.2 million accounts and $39 billion in assets under management as of December 31, 2012, Virginia529 is the largest 529 plan in the country. For more information on Virginia529’s college savings options, visit Virginia529.com.

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Kelley Hope
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