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Minnesota College savings Plan Logo(St. Paul) - When it comes to saving for college, a lot of people keep putting it off. The most common excuses: “I don’t make enough to save money... I have too much debt to put money into savings... and I’ll catch up later when my salary is higher.” 

According to Robert Stern, Program Manager for the Minnesota College Savings Plan, it’s time to stop making excuses and act!  “When your children are young, time is on your side. The sooner you start saving the better,” he said.

To help get the word out about the benefits offered by Minnesota’s official 529 plan, Stern and Chris McLeod, a tuition financing consultant with TIAA-CREF, the company that manages the plan, will lead workshops on Rasmussen College campuses in February and March. 

The first event will be held on Wed., Feb. 25, 2015,  from Noon - 1 p.m. at Rasmussen College’s Blaine campus, which is located at 3629 95th Avenue Northeast in Blaine. The second event will be held on Mon., March 2, 2015, from 4 p.m. - 5 p.m. at Rasmussen College’s Eagan campus, which is located at 3500 Federal Drive. Signs will point attendees to the exact event locations when they arrive on the campuses.

At both events, McLeod will share a Powerpoint presentation, explaining the benefits of saving for college with a 529 account and also answer any questions people may have. “Accounts can be opened with as little as $25, and there is no limit to the number of accounts a child can have in his or her name,” he said. “And perhaps the biggest benefit the plan offers is that when the time comes to pay for higher education, all the earnings in the account can be withdrawn tax free, as long as it is a qualified expense.” 

In addition to the presentation, the Minnesota College Savings Plan will have a table at both events, where free information and enrollment packets will be available. The Minnesota College Savings Plan is managed by TIAA- CREF Tuition Financing, Inc. (TFI). TFI is part of the TIAA-CREF group of companies, with over $6 billion in combined assets under management. 

For more information about saving for college, visit www.mnsaves.org.

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