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Edvest Celebrates 25 Years of Helping Wisconsin Families Save for College with Sweepstakes

Apr 25, 2022

Multiple children at a birthday party with noisemakers

MADISON, Wis. – Edvest, the state of Wisconsin’s direct-sold 529 college savings plan, is celebrating its 25th anniversary this year. To mark the significant milestone, Edvest is celebrating with a year-long sweepstakes and awarding a $529 account contribution to one winner every month throughout the year.*

“We’re excited to be celebrating Edvest’s 25th anniversary. Over the past 25 years, Edvest has helped transform the lives of thousands of families across Wisconsin by providing the financial tools they need to make higher education a reality,” said Wisconsin Department of Financial Institutions (DFI) Secretary-designee Cheryll Olson-Collins. “We’ve come a long way over the past quarter-century, and we look forward to continuing our mission of helping Wisconsin families achieve their college savings goals, helping children realize their dreams, and creating a better future for our state.”

Enter for your chance to win $529

Entering the sweepstakes is easy. Simply go to Edvest.com/25yearsweeps. Complete the online entry form for a chance to win a $529 contribution to an Edvest account.

“After 25 years, Edvest continues to be one of the best ways for Wisconsin families to save for higher education,” Secretary-designee Olson-Collins said. “The plan offers flexible investment options, low fees, low minimum contributions, and unique tax advantages.”

Edvest is a tax-advantaged investment, meaning that contributions to an account may qualify for a state income tax deduction. In addition, earnings are tax free if the savings are used for qualified education expenses like tuition and fees, books, laptops, and more. Funds can be used at any accredited public or private university, college, technical or community college, or professional school nationwide (and many abroad), and can also be used toward the cost of apprenticeships.

Helping families like yours

It’s no small achievement that Edvest account owners have saved more than $4.7 billion dollars dedicated to future higher education expenses. Nearly $1.9 billion has been withdrawn from Edvest accounts to pay for education-related expenses on behalf of almost tens of thousands of students (as of 3/31/2022). These statistics demonstrate the success of Edvest over the past 25 years, but only tell part of the story. Below are quotes from a few Edvest account owners explaining how Edvest has made a difference in their lives:

“By starting an Edvest account when my children were born, they will see that I value their education,” said Heather T. in Appleton, Wis.

“College savings made easy with recurring payments,” said Michael K. in Sheboygan, Wis.

“Edvest allows me to save for my grandchildren’s post-secondary education,” said Denise P. in Racine, Wis.

“Edvest has made planning our daughter’s future stress free and easy. We are well on our way to our goal,” said Michael F. in Eau Claire, Wis.

Edvest at a Glance (as of 4/25/2022)

  • Rated as a Best-In-Class 529 plan by Morningstar for eight consecutive years1
  • One of the nation’s lowest cost 529 plans2
  • Five-Cap Overall Rating for Wisconsin Residents by SavingforCollege.com3

For more information about Edvest and how to open an account, visit Edvest.com or call 888-338-3789. To schedule an appointment with one of our college savings consultants or to learn about offering Edvest at Work as part of an employer benefit, visit us at edvest.com/plan/everyone-employers.

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*No purchase necessary. Void where prohibited or restricted by law. Deadline for entry is 12/31/22. Sponsored by TIAA-CREF Tuition Financing, Inc. (TFI), Program Manager for the Edvest College Savings Plan. Visit Edvest.com/25yearsweeps for Official Rules.

To learn more about Wisconsin’s Edvest College Savings Plan, its investment objectives, tax benefits, risks and costs, please see the Plan Description at Edvest.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. If the funds aren’t used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan. Consult your legal or tax professional for tax advice.

1In an annual review (10/26/2021) of the largest 529 college savings plans (62 total), Morningstar identified 32 plans that rose above their typical peers, awarding those plans Gold, Silver, and Bronze Morningstar Analyst Ratings for 2021. These plans offer investment options that Morningstar expects will collectively outperform and exhibit some combination of the following attractive features: a well-researched asset-allocation approach, a robust process for selecting underlying investments, an appropriate menu of options to meet investor needs, strong oversight from the state and investment manager, and minimal fees. The four key pillars used by Morningstar to evaluate college savings plans include – Process, People, Parent, and Price. For more information about Morningstar’s overview of the Edvest College Savings Plan, go to Morningstar.com. Past performance does not predict future results. Source: Morningstar.com. A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions.

2ISS Marketing Intelligence 529 College Savings Fee Analysis Q1 2022. Edvest’s average annual asset-based fees are 0.19% for all portfolios compared to 0.52% for all 529 plans – almost three times lower than today’s national average for 529 plans.

3Saving For College’s 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories: Performance, Costs, Features, Reliability, and Resident. Savingforcollege.com.

TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for the Wisconsin’s Edvest College Savings Plan.

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