Preparing for your child’s future can never start too early. Our sponsors at CHET, Connecticut’s Higher Education Trust know the full importance of this and that is why they want to raise awareness to all families about their program. I recently sat down with Tony Durkan, Vice President and head of 529 College Savings Product and CHET Management at Fidelity Investments to learn even more about their program.
Q: What is the CHET 529 Savings Program, and why is it so important for families to start saving early?
A: CHET is sponsored by the Connecticut Office of the Treasurer, and it provides a tax advantaged way to help save and pay for college expenses, as well as other educational expenses. These expenses can be high, so it’s never too soon to start saving for your child’s future education. And when a CHET 529 account is opened for a child less than a year old, or within the first year of adoption, that child will receive a one-time $100 bonus contribution through CHET’s Baby Scholars program. So it’s a win-win. Plus, CHET 529 funds can be used for a wide variety of expenses at any accredited university, college, or vocational school nationwide – and many abroad.
Q: Tell us about the CHET Dream Big! Competition.
A: CHET recently launched the Dream Big! Competition, open to all Connecticut residents in grades K-12. To enter, students are asked to answer, in the form of a drawing, short essay or video, a question focusing on their dreams for the future. This is an opportunity for students to show off their creativity and really think about their dreams for their future, and the future of their communities. The deadline to enter is October 21. Each school in Connecticut that is represented by at least one student entry will be eligible for a random drawing for a technology prize worth $7,500. A total of 20 schools will win a technology prize – and your school could be one of them! This year, the Dream Big! Competition prizes have increased in value. We will be awarding more than $450,000 in CHET 529 College Savings Plan- Direct Plan account contributions to students in grades K-12 and technology prizes to schools. For the prize-winning students, we will be awarding three $25,000 prizes, 15 $7,500 prizes, and 240 $500 prizes. We are really looking forward to seeing those winning entries! Deadline to enter in the Dream Big! Competition is 11:59 p.m. on October 21. No purchase necessary. 18+, in CT, must be parent/legal guardian of a student currently enrolled in Grades K-12. Ends Student prizes will be a contribution to an eligible CHET 529 Direct Plan account. Rules: www.chetdreambig.com. To learn more about the CHET 529 Savings Plan, visit www.aboutCHET.com. #SponsoredbyFidelity
Katelyn Rutty is the Communications Manager at the Connecticut Science Center where she manages all of the online content platforms. She has a Master’s in Business Administration from Western New England University.
