Update 9/2/23: Deal is back for 2023
Update 9/8/22: Deal is back for 2022 (see this comment for eligible states)
The Offer
ScholarShare is offering a bonus of $100 when you open a new 529 Plan account with $1,000+
The Fine Print
The ScholarShare 529 College Savings Plan (“ScholarShare 529”) is a 529 college savings plan administered by the ScholarShare Investment Board (“SIB”), an instrumentality of the state of California, and managed by TIAA-CREF Tuition Financing, Inc. (“TFI”).
To receive a $100 matching deposit (“the Matching Deposit”), eligible individuals must open a new ScholarShare 529 account (for a new beneficiary) online at www.ScholarShare529.com between September 1, 2019 at 12:01 AM Pacific Time (PT) and September 30, 2019 at 11:59 PM PT with an initial deposit of at least $1,000 to be contributed and invested at the time the new ScholarShare 529 account is opened.
The initial $1,000 deposit must be received within 10 business days after the account is established.
The Matching Deposit will be made to the eligible ScholarShare 529 account on or before 11:59 PM PT on January 15, 2020. Limit: one (1) Matching Deposit per new ScholarShare 529 account per unique accountholder/beneficiary combination.
Offer open to legal residents of the 50 states of the United States who are at least 18 years of age or older as of September 1, 2019 and have a social security number or federal taxpayer
identification number and excludes the following: (a) members, officers, and employees of SIB; TFI and its parent, subsidiaries, affiliates, owners, members, directors, managers, officers, employees, trustees, agents; and their respective immediate family members (spouse, domestic partner, parents, legal guardians, grandparents, grandchildren, siblings, children and “step” of each) and those individuals living in their same household; and (b) FINRA affiliated customers.
All taxes and other costs associated with this promotion are solely the responsibility of the recipient and/or beneficiary. Beneficiary for the new ScholarShare 529 account cannot be a beneficiary of an existing ScholarShare 529 account for that account owner.
Our Verdict
We’ve seen a similar deal before, but that was for $50. Upside was that only required a $50 deposit. This is a bigger bonus but requires a much larger deposit. Chuck & I aren’t the people to ask when it comes to these college plans, so make sure you do your own research first.