Idaho Treasurer Ron Crane and Upromise Investments Expand College Savings Opportunities with the Launch of Ugift
Innovative Online Resource Makes It Easier for Families and Friends to Give the Gift of College Savings
BOISE, Idaho -- Idaho State Treasurer Ron Crane and Upromise Investments, Inc. announced the rollout of Ugift for IDeal - Idaho College Savings Program. IDeal is a 529 college savings plan sponsored by the State of Idaho. Ugift is a new online resource that makes it easy for IDeal account owners to invite family and friends to make gift contributions to a child's 529 college savings plan account in lieu of traditional gifts.
On April 28, Ugift became available for IDeal account owners. Using the Program website, account owners can send invitations via email or print gift coupons to give to family and friends for a birthday, holiday, or other celebration. Gift contributions are tied to the celebration and the specific IDeal account and can be monitored online by the account owner. The minimum gift amount is $25, about the average cost of a child's birthday gift.
"My office is committed to encouraging and enabling Idaho families to save for college. Ugift is a valuable addition to our successful IDeal Program. It will allow a child's loved ones to celebrate occasions with a long-lasting gift -- the possibility of a college education," said Treasurer Crane.
"Many Idahoans are very concerned about saving for college for their loved ones. Ugift is an exciting and simple way for families and friends to help ease that burden," explained Mark Chapleau, President of Upromise Investments. "Easily accessed, technology-friendly tools give account holders more opportunity to rise to the challenge of investing for college. Through innovations like Ugift, we are continually working on ways to make college investing easier for account owners."
Since the beginning of November 2007, Ugift has been rolled out across four plans in three states, with over 4,400 celebrations created and over $438,300 in contributed gifts.
For more information about IDeal -- Idaho College Savings Program, call 1-866-433-2533 or visit www.idsaves.org to obtain an Enrollment Kit. The Enrollment Kit includes a Disclosure Statement that discusses investment objectives, risks, charges, expenses, and other important information. Because investing in IDeal is an important decision for you and your family, you should read and consider the Enrollment Kit carefully before investing. Upromise Investments, Inc., Distributor and Underwriter.
If you are not an Idaho taxpayer, consider before investing whether your or the beneficiary's home state offers any state tax or other benefits that are only available for investments in that state's qualified tuition program.
IDeal is administered by the Idaho College Savings Program Board. Upromise Investments, Inc. serves as program manager and Upromise Investment Advisors, LLC, provides investment advisory services and recordkeeping and administrative services. Upromise Investments, Inc. and Upromise Investment Advisors, LLC have overall responsibility for the day-to-day operations, including effecting transactions and marketing and distribution of IDeal. The Vanguard Group, Inc., serves as Investment Manager for IDeal. IDeal's portfolios, although they invest in mutual funds, are not mutual funds.
Investment returns are not guaranteed and you can lose money by investing in IDeal.
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