DRESHER, Pa.--(BUSINESS WIRE)--Upromise Investments, an Ascensus company and leading administrator for 529 college savings programs, is pleased to announce that its Ugift® program has surpassed $100 million in college savings gift contributions.
Ugift was launched in 2007 as an easy-to-use online service that allows family and friends to celebrate birthdays, holidays, graduations, or other events with gift money toward a college savings account in lieu of traditional gifts. All contributions are invested into the recipient’s 529 account to be used for college and college-related expenses. Best of all, there is no charge to the recipient or the gift giver for the service.
“This milestone shows that giving the gift of college savings can be hassle free, secure, and—most of all—effective,” said Jeff Howkins, President, Upromise Investments. “We’re thrilled to provide a way for thousands of families across the country to receive college savings through Ugift.”
To help encourage future college savings efforts among family and friends, Upromise Investments is making Ugift even easier to use. Enhancements to Ugift were just launched in the nationally sold SSgA Upromise 529 Plan and are expected to roll out to the full suite of all Upromise Investments’ 529 plans over the coming months. The enhancements improve the gift giving experience in two ways:
- Gift givers can now make contributions electronically via Electronic Funds Transfer
- Account owners can obtain and share a Ugift code unique to their account that allows family and friends to make gift contributions at any time at Ugift529.com
“By introducing these new enhancements, Ugift offers families more flexibility, options, and opportunities than ever before,” said Howkins.
Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 6 million Americans save for the future. With more than 30 years of experience, the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers, and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 40,000 retirement plans and 3 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. For more information, visit www.ascensus.com.
Ugift is a registered service mark of Upromise Investments, Inc.
For more information about the SSgA Upromise 529 Plan download the Plan Description and Participation Agreement at www.ssga.upromise529.com or request one by calling 1-800-587-7305. Investment objectives, risks, charges, expenses, and other important information are included in the Plan Description; read and consider it carefully before investing. Upromise Investments, Inc., Distributor.
Before investing in any 529 plan, you should consider whether your or the designated beneficiary's home state offers a 529 plan that provides its taxpayers with state tax and other benefits that are only available through the home state's 529 plan.