NEST 529 Encourages Families to Make the Most of Education Savings Benefits
For Immediate Release
“As the costs of higher education continue to rise, it’s more important than ever for families to take advantage of the tools available to plan for the future,” said Nebraska State Treasurer Tom Briese. “NEST 529 offers a tax-advantaged way to save for a child’s education — whether that’s college, trade school, or an apprenticeship — and helps turn academic dreams into reality. College Savings Month is the perfect time to start because every contribution, no matter how small, can grow into something meaningful over time.”
This College Savings Month, parents and guardians should take the opportunity to discuss how a NEST 529 Education Savings Plan can help their loved ones reach their goals.
Higher education costs continue to rise above the rate of inflation1 and extend beyond just tuition and board to include books, laptops, institution fees, and more. According to College Board, a nonprofit organization that helps students navigate the path to secondary education, in 2024-25, the average yearly costs2 of higher education tuition and fees for a full-time student are as follows:
- Public, two-year institution: $4,050
- Public, four-year, in-state institution: $11,610
- Public, four-year, out-of-state institution: $30,780
- Private, nonprofit, four-year institution: $43,350
Scholarships and grants can help, but they rarely cover the full cost of attendance, leaving families responsible for books, technology, lab fees, and other essentials. A NEST 529 Education Savings Plan can help with those financial pressures with tax-advantaged benefits.
With no minimum deposit required to open an account and contributions that can be managed online, families can start saving at any time with a NEST 529 account. Account owners in Nebraska may be eligible for an annual state income tax deduction of up to $10,000 for NEST 529 contributions, or $5,000 if married filing separately3. Plus, any earnings grow tax free, and qualified withdrawals may be free from federal and state income taxes4, providing even greater savings potential.
While the future may be uncertain, taking small steps to save can have a big impact on a child’s success. A NEST 529 account allows families to start investing in their children’s future, so they can soar toward their goals. Visit NEST529.com to read more about the benefits of the NEST 529 Education Savings Plans.
The Nebraska State Treasurer serves as the Program Trustee. All investments, including the portfolio structure offered through NEST 529 program, are vetted and approved by the Nebraska Investment Council.