HARTFORD, Conn., Dec. 13, 2010 /PRNewswire/ -- Connecticut State Treasurer Denise L. Nappier announces the launch of a new CHET website that anyone can use to give a gift that will help a child or loved one save for college: www.CHETGifting.com.
"We believe that every child deserves a chance to go to college, and every family deserves some help making it happen," said Connecticut State Treasurer Denise L. Nappier, who serves as trustee for CHET, Connecticut's 529 college savings program. "The gifting website is one more tool for families trying to make the dream of a college education come true."
According to data from market research firm NPD Group, about $41.2 billion was spent on traditional toys and video games last year. The CHET gifting website offers a simple way to give a gift with more long-term value than any traditional gift—a college education.
The website provides easy access to downloadable gift certificates and gift coupons. Users can also order newborn birth announcements to invite family and friends to give to an existing CHET account. Gifts can be given to anyone who already has a CHET account, or an individual may open an account themselves for as little as $25 ($15 through payroll deduction) if an account does not already exist for their special loved one.
"During this holiday season, why not consider giving the gift of education?" asks Nappier. In addition to the benefit of helping your loved ones achieve their future higher education goals; as a Connecticut taxpayer, when you open or contribute to a CHET account, you may also be eligible to take advantage of Connecticut income tax benefits available only through CHET.
"Saving for a college education is a big challenge for families. This website will help parents, grandparents, relatives and friends to meet that challenge," Nappier said. "And, you may be eligible for a State income tax credit -that's a win-win situation in my book," Nappier added.
The CHET direct-sold 529 college savings plan was established in 1997 and has grown to $1.38 billion in assets with more than 96,000 accounts (as of October 31, 2010). Connecticut Treasurer Denise L. Nappier serves as Trustee of CHET and has the statutory responsibility to manage the program. For additional information, to obtain a Disclosure Booklet or to enroll on line, please visit www.aboutchet.com or call 1-888-799-2438. The Disclosure Booklet contains information about investment objectives, risks, charges, expenses and tax considerations. Please read this carefully.
SOURCE Connecticut Higher Education Trust (CHET)