Sponsored - The following content is created on behalf of TN Dept of Treasury- TN Stars College Savings 529 Program and does not reflect the opinions of Gray Media or its editorial staff. To learn more about TN Dept of Treasury- TN Stars College Savings 529 Program, visit https://tnstars.treasury.tn.gov.
The TNStars College Savings 529 Program is designed to help families set aside and invest funds for future college costs when your children are young. Unlike a basic savings account, money saved in a TNStars account isn’t just sitting idle.
An account can be opened online at TNStars.com in as little as 15 minutes with just $25 to start!
With TNStars, you can put the power of compounding interest to work for you to help grow savings along with your child or grandchild. Without savings, compounding interest can work against you by growing the amount of debt your child could accumulate by taking out student loans. If a family saves $25 per week with TNStars over 18 years, they could save $23,400. With compounding interest those savings could grow to $42,000 for college. A family who borrows that same $42,000 could end up repaying almost $60,000.
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Money saved in a TNStars account can pay for most colleges and universities in the U.S. It can even be used at trade schools in the U.S. and some schools abroad. The general rule of thumb is, if the school accepts federal financial aid, then you can use your TNStars account there.
TNStars makes college savings easy! You can manage a TNStars account yourself, but it doesn’t mean you’re alone. The program is managed by the Tennessee Department of Treasury, which monitors the investment options and works to keep costs low – helping you save even more.
You can choose to invest your savings through a range of self-selected funds or use our age-based option. If you are a do-it-yourself kind of person, you may prefer to choose the self-selected route. TNStars offers 15 diverse investment options, allowing you to choose the options that will best meet your goals, risk tolerance, and timeline.
With the Age-Based investment option, your money is automatically managed. We factor in the child’s current age and the number of years before college. Depending on this age, contributions are placed in pre-determined age bands, which automatically shift from more aggressive to more conservative as your child nears college age. You can even choose to invest your savings in a combination of self-selected and age-based options.
Go to TNStars.com to get started. In 15 minutes, you can open an account online for your child, grandchild, niece, or nephew – any special child in your life. And TNStars clients can use our mobile app to conveniently contribute, view investments, and invite family and friends to make gift contributions to the account.
Consider all investment objectives, risks, charges, and expenses before investing in the TNStars College Savings 529 program. Please call us toll-free at 855-386-7827 for a Disclosure Brochure containing this and other information. Read it carefully. Non-Tennessee taxpayers and residents: If you are not a Tennessee taxpayer, you should determine whether your home state offers a 529 plan that provides state tax or other state benefits not available to you by investing in this program. You should consider such state tax or other state benefits, if any, before investing in this program.