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Treasurer Magaziner Encourages Rhode Islanders to Give a Gift That Matters This Holiday Season

Rhode Island General Treasurer Seth Magaziner today encouraged Rhode Islanders to consider requesting or giving a gift contribution to a CollegeBound Saver account to make a real,long-lasting difference in the life of a child they care about.

"A CollegeBound Saver 529 savings plan can make it easy for Rhode Islanders to begin saving for the rising cost of higher education," said General Treasurer Seth Magaziner. "When looking for a gift that will continue to grow as the children in your life grow up, consider opening or gifting a contribution to a CollegeBound Saver account for a child you care about this holiday season."

A 529?savings account is a flexible, tax-free way for families to save for education-related expenses. Money invested in a CollegeBound account grows tax-free and can be used to pay for tuition, fees, supplies, and other expenses for college or vocational school. All CollegeBound accounts have an easy online gifting feature that makes it easy for family members to contribute to the account.

Rhode Island's CollegeBound Saver 529 program is one of the highest-rated college savings plans in the country, with a 4.5 out of 5 rating from SavingforCollege.com [r20.rs6.net]. It only takes $1 and about 10 minutes to open an account and start saving.

Under Treasurer Magaziner's leadership, the CollegeBound program continues to grow and achieved a 40% year-over-year increase in new accounts in 2021 through October 31.

Treasurer Magaziner recently enrolled [r20.rs6.net] his newborn son, Max,in the program.

To learn more and to set up an account, visit CollegeBoundSaver.com