College Savings

Crowdfunding College? Another Way to Save

Graduates throwing caps up in the air.

You’ve heard it a million times: College costs are skyrocketing. You need to start saving early. Get started now.

But when it comes to something that’s years away, it can be hard to sock away real money and put a college savings plan into action. It’s time to get realistic about how much you need for your child’s education, the best ways to save and how to avoid debt down the road.

College Costs Are Rising…But How Much?

Even considering the price differences between two- and four-year, public and private options, the costs can quickly get overwhelming.

A table titled, "Sticker Shock: Prices for One Year of College". A subheading reads, "Average Annual Tuition and Fees, Plus Room and Board".

How Are Other Families Paying?

Most families pay for college through a combination of current paychecks, savings, scholarships or grants, and particularly, loans. In fact, more than 20% of funding for the 2018-19 school year came from parent and student loans, piling on debt for families and young adults.

A bar chart titled,  "How a Typical Family Pays for College".

How a Typical Family Pays for College. Saving more now can help you borrow less.
Source: How America Pays for College 2019 , SallieMae and Ipsos. 

Another Way to Save: Crowdfunding

Crowdfunding has become popular for a variety of expenses. Parents are recognizing that small amounts from lots of people have the potential to grow over time.

Family members and friends may already be giving money for holidays, birthdays and other milestones. But when you add up these gifts, you’ve got another tool to save for college.

What if you replaced a portion of your usual gift amount with contributions toward college savings? And what if your friends and family did the same?

An Easy Way to Crowdfund Your 529 Account

Through the Learning Quest® 529 Education Savings Program , it’s easier than ever to set up a crowdfunding page specifically for your child’s college journey.

Invite family and friends to a personalized online gifting page where they can give money straight from their bank account to a Learning Quest account. And best of all, there are no fees for this gifting service.

Set Up a Gifting Page

  • Log in to your Learning Quest 529 account and click on the Ugift® link. Don’t have a Learning Quest account? Click here to learn more about the benefits of 529 plans.

  • Set a saving goal for an upcoming occasion: birthday, holiday, graduation or other milestone.

  • Add a description of your goal, a photo and choose an end date. The page will count down the days left to send a gift for your chosen occasion.

  • Only someone with the link to your gifting page will be able to see it. As the account owner, you decide who gets the link.

Rethink the Wish List: How to Ask for College Money

For the “I never thought of it” crowd: Make sure they know college savings is a real, welcome gift option.

For the “I want to give a real gift” crowd: Suggest that money for college be a portion of a regular present instead of either/or.

For the “Kids have too much stuff” crowd: This is the perfect gift to avoid adding more toys to the pile.

Invite Friends and Family

  • Once you’ve set up your gifting page, you can share the link through social media or by email.

  • Gift givers can click on Give a Gift to choose an amount and add their name and bank information. You’ll receive a deposit confirmation when the gift is added to the account.

  • Creating a Gift Giver profile is optional, but it will let them give future gifts more quickly, send gifts to multiple recipients, view gift history and set up recurring gifts.

Small Gifts May Add Up to Big Dreams

The online gifting page is also a good way to engage your child in the college planning process. Together, you can see how gifts from family and friends—no matter how big or small—can  help make college dreams a reality.

A Gift for Their Future

Help family and friends give the gift of college savings. Get started today.

Before investing, carefully consider the plan's investment objectives, risks, charges and expenses. This information and more about the plan can be found in the Learning Quest Handbook, available by contacting your financial advisor or American Century Investment Services, Inc., Distributor, at 1-800-579-2203, and should be read carefully before investing. If you are not a Kansas taxpayer, consider before investing whether your or the beneficiary's home state offers a 529 Plan that provides its taxpayers with state tax and other benefits not available through this plan.

As with any investment, withdrawal value may be more or less than your original investment.

Notice: Accounts established under Learning Quest and their earnings are neither insured nor guaranteed by the State of Kansas, the Kansas State Treasurer or American Century Investments.

Administered by Kansas State Treasurer Lynn Rogers
Managed by American Century Investment Management, Inc.
Distributed by American Century Investment Services, Inc.