Key Points
- May 29 is recognized nationwide as “529 days,” with states and financial institutions offering bonuses, giveaways and events to promote university savings.
- More than $52.5 billion is currently being saved on 529 plans nationwide as families seek a tax-friendly way to prepare for future education expenses.
- Dozens of states offer one-time incentives, cash matches, webinars, and contests to encourage participation in these programs.
Nationwide, May 29 marks a coordinated push to promote university savings accounts known as the 529 plan. These plans, created under Section 529 of the Internal Revenue Code, provide tax benefits for families to save for education, and many states have been sweetening their transactions this year.
From cash bonuses to newborn giveaways, state finance managers and planning managers use dates to draw attention to long-term savings. The efforts are backed by University Savings Planning Network (CSPN)the group below National Treasury Association It tracks participation and manages outreach.
“In 529 days, we remind families of all ages to spend time and start a 529 account to pay for high school education, if they have not yet contributed to existing accounts, or set up for repeated contributions and make guesses from long-term plans.said Mary Morris, CSPN Chairman and CEO of Commonwealth Savers.
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What is the 529 plan?
A 529 plan is a type of investment account that allows money to grow tax-free when used for qualified education expenses. This includes tuition fees, fees, books, and even housing costs at qualified universities, universities and trade schools. Some states are expanding their profits to K-12 tuition fees, student loan repayments, and even converting funds into Roth IRAs.
These accounts can be opened by parents, grandparents, or others on behalf of the beneficiary. Donations are made in post-tax dollars, but many states offer state income tax deductions or credits. If the original beneficiary does not use the money, there is no income limit and the funds can be transferred between families.
As of the end of 2024, Americans had saved more than $525 billion on 529 accounts, according to CSPN. The ongoing interest reflects growing concerns about student debt, currently totaling around $1.8 trillion nationwide.
The state offers prizes, bonuses and events
To record 529 days, most national plans offer limited time promotion or educational events. Bonus offers include:
- Alabama: A $529 donation gift to 29 babies born between May 29, 2024 and May 29, 2025.
- California: A $50 bonus for a new ScholarShare 529 account opened with repeated deposits until May 31st.
- Georgia: The $50 bonus on new accounts set up between 5/20/25 and 5/31/25 has been less than $50 a month contribution for six months.
- Kansas:Open a new LearningQuest 529 plan between 5/21/25 and 6/1/25 and win a bonus $50 donation.
- Louisiana:All Louisiana residents who make a minimum $29 deposit in their Louisiana 529 Savings Plan account prior to May 29th will be entered into the drawing to receive a $529 deposit in their Start, Start K12, or La Eable account.
- Michigan:Met is offering a $50 bonus to existing contract holders who donate $250 to Met between 5/29/25 and 6/1/25. Additionally, new buyers will be eligible for a $50 bonus if they open a new Met with a minimum of $250 donation while registering online.
- Minnesota:Open a new $50 account between 5/20/25 and 5/31/25, set up a repeat $50 per month contribution for six months, earning $50.
- Pennsylvania: $5,529 award for $6 for those who have donated at least $10 to a qualified plan this May.
- South Carolina:For South Carolina Born on 5/29/2025, Palmettobabies residents are eligible to receive a personal funded $529 grant when their parents open a new future academic account.
- Yuta: This month, a new My529 account $40 match has been opened in monthly deposits.
- Virginia:For one day only, open your new Invest529 account on May 29th and receive a bonus initial contribution of $25 using the gift code 529Day2025.
Other states may offer live social media contests for podcasts and webinars. In Arizona, state treasurers visit surprise hospitals to present their first 529 deposits to newborns. Others are inviting their children to draw dream work and taking part in summer baseball events to raise awareness.
Why is the 529 plan important?
With student loan exemption policies uncertain and rising university costs, families are increasingly turning their eyes to savings strategies that will help limit future borrowings. A small yet steady contribution to the 529 account can reduce the need for loans and build financial preparations.
The plan also serves more than just students involved in the university. Funds can be used for trade schools, apprentices, and certifications. They can also support adult learners returning to school later in life.
Even a modest contribution is important. Many plans allow you to open an account for just $25. Some states offer seed money to encourage participation, especially among low-income families.
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Editor: Colin Graves
Post 529 Days offers bonuses to start savings for college. It first appeared in university investors.
