ScholarShare 529

ScholarShare 529 — California’s College Savings Plan

Website: www.scholarshare529.com

ScholarShare 529 is California’s official 529 college savings plan, administered by the ScholarShare Investment Board — the same state agency that runs CalKIDS. It is the recommended way for families to grow their child’s college savings over time, and it can be directly linked to a CalKIDS account so all funds are visible in one place.

Eligibility:

A ScholarShare 529 account falls into two categories: Account Owners and Beneficiaries. The requirements are highly flexible and open to almost anyone.

• Account Owner: Any U.S. citizen or resident alien who is at least 18 years old and has a valid Social Security Number (SSN) or Taxpayer Identification Number (TIN) can open an account. Parents, grandparents, other family members, friends, and even certain trusts or estates can be account owners. 
• Beneficiary: The person named to receive the funds can be anyone with a valid SSN or TIN. This can be your child, grandchild, friend, a relative, or even yourself. There are no income restrictions or state residency requirements to be a beneficiary. 

Funds can be used at any accredited college, university, vocational school, or apprenticeship program nationwide (and some abroad).

How to Get Started:

Opening a ScholarShare 529 account takes about 15 minutes online. Free consultations are available in English or Spanish with a ScholarShare 529 college savings specialist.