Stop Delaying: Save for Your Loved One’s Future

March 21, 2025

As a parent or guardian, you juggle countless financial priorities —groceries, mortgage payments, extracurricular activities, and saving for the unexpected. With so many immediate expenses, it’s easy to push long-term goals, like saving for your child’s education, to the back burner.

But here’s the reality: the sooner you start saving, the more opportunities you can create for your child’s future. Overcoming the inertia of “I’ll start later” is the first and most important step toward making education savings a manageable and rewarding part of your financial plan.

The Power of Starting Early

By starting now, you can save more. The earlier you start saving for college, trade schools, four-year universities, or other higher education, the more opportunity you may have for growth. Small contributions made early can grow over time, making it easier to reach your savings goals with less financial strain down the road.

For example, if you start setting aside even a small amount each month in a NEST 529 Education Savings Plan account, you could potentially build a larger savings balance over 10 years than if you wait five years to begin. The earlier you start, the more time your money has to grow.

Make Saving for Education Simple

The good news? Getting started with a NEST 529 Education Savings Plan account is easier than you think. Designed to help families plan ahead, NEST 529 offers a simple, flexible, and tax-advantaged way to save for tuition, books, and other education-related finances.

Why Choose NEST 529?

  • Tax Advantages – Nebraska taxpayers who have a NEST 529 account may qualify for state income tax deductions on their contributions.1 Plus, any growth in the account is tax-deferred.
  • Diverse Investment Choices – Select from a range of quality investment options.
  • Flexible Use – Savings can be used tax-free for qualified education expenses, including tuition, fees, books, supplies, and room and board, at eligible public and private colleges, universities, and vocational, trade, technical, and professional institutions across the U.S. and some foreign schools.2

Small Steps, Big Impact

Many hesitate to start an education savings plan because they think they need a large amount of money upfront. But the truth is, small, consistent contributions can make all the difference. You don’t have to fund your child’s or loved one’s entire education overnight — you just need to start.

Here’s how to take action today:

  1. Open a NEST 529 account – Getting started is simple. You can create an account in just 10 minutes.
  2. Contribute at your own pace – Contributions can be made at any time, with no minimum required. You can easily make a one-time or recurring contribution.
  3. Invite others to give – Friends and family can also help grow your loved one’s education savings through NEST GiftED.
  4. Adjust as needed – Increase your contributions over time as your budget allows — even small increases can lead to big savings.

It’s easy to put off saving for education, but the longer you wait, the harder it becomes to catch up. Your future self — and your loved one — will thank you for taking that first step today.

Visit NEST529.com to learn more and start your savings journey today.

1 Account owners may deduct for Nebraska income tax purposes contributions they make to their own account (and any other accounts they own in the Nebraska Educational Savings Plan Trust) up to an overall maximum of $10,000 ($5,000 if married, filing separately). Contributions in excess of $10,000 cannot be carried over to a future year. For a minor-owned or UGMA/UTMA 529 account, the minor is considered the account owner for Nebraska state income tax deduction purposes. The minor must file a Nebraska tax return for the year their contributions are made to be eligible for a tax deduction for their own contributions. In the case of a UGMA/UTMA 529 account, contributions by the parent/ guardian listed as the Custodian on the UGMA/UTMA Plan account are also eligible for a Nebraska state tax deduction. back

2 Withdrawals used to pay for qualified higher education expenses are free from federal and Nebraska state income tax. Qualified higher education expenses include tuition, fees, books, supplies, and equipment required for enrollment or attendance; certain room and board expenses incurred by students who are enrolled at least half-time; the purchase of computer or peripheral equipment, computer software, or Internet access and related services, if used primarily by the beneficiary during any of the years the beneficiary is enrolled at an eligible educational institution; certain expenses for special needs services needed by a special needs beneficiary; apprenticeship program expenses; and payment of principal or interest on any qualified education loan of the Beneficiary or a sibling of the Beneficiary (up to an aggregate lifetime limit of $10,000 per individual). However, earnings on all other types of withdrawals are generally subject to federal and Nebraska state income taxes, and an additional 10% federal tax.

Nebraska law does not treat the following Federal Qualified Higher Education Expenses as Nebraska Qualified Expenses: K–12 Tuition Expenses. If a withdrawal is made for such purposes, although it is a Federal Qualified Withdrawal, it will be treated as a Nebraska Non-Qualified Withdrawal and may result in the recapture of a previously claimed Nebraska state income tax deduction, and the earnings portion will be subject to Nebraska state income tax. Please consult your tax professional about your particular situation. back

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