College Savings Month In Kentucky

(Frankfort)   Governor Steve Beshear has proclaimed September as College Savings Month in Kentucky to emphasize the importance of saving early for college expenses. “As more employers expect their employees to have some education after high school, it becomes more important for families to plan early for college expenses,” Gov. Beshear said. “They can do so through the state’s own college-saving plan, the Kentucky Education Savings Plan Trust (KESPT).” KESPT is administered by the Kentucky Higher Education Assistance Authority (KHEAA) and managed by TIAA-CREF Tuition Financing Inc.

KESPT accounts can be started for as little as $25. Automatic contributions can be as small as $15. The trust offers several investment options, and any earnings used to pay for higher education are tax free at both the state and federal levels. KHEAA is the state agency that administers the Kentucky Educational Excellence Scholarship (KEES), need-based grants and other programs to help students pay their higher education expenses.

For more information about KESPT, visit www.kysaves.com.

To learn how to plan and prepare for higher education, go to www.gotocollege.ky.gov. For more information about Kentucky scholarships and grants, visit www.kheaa.com; write KHEAA, P.O. Box 798, Frankfort, KY 40602; or call 800-928-8926, ext. 6-7372.