We have expanded our supercharged college savings features and mobile app to dozens of new state-sponsored 529 college savings programs.
Now families will be able to connect their 529 plan to CollegeBacker to save more through our unique gifting platform and cash-back rewards program.
“We’re excited to make our modern savings platform available to another 2 million families at a time when they need it most,” said our CEO and founder Jordan Lee.
The covered states include Arkansas, California, Colorado, Florida, Idaho, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, New Mexico, New York, North Dakota, Pennsylvania, Rhode Island, Tennessee, Utah, Virginia, and West Virginia.
We started by making it easy to sign up for a tax-free 529 college savings plan in just a few minutes. We did this by simplifying the complex field of plan and investment choices and bringing a Silicon Valley approach to designing a simple-to-use web and mobile product. After sign-up, each child gets a customizable gifting page that can be shared with family and friends for birthdays, graduations, and holidays. A couple of months ago, we launched Backer Bucks™, a new program to help cash-strapped parents and their circle of backers earn cash-back rewards directly into a child’s college fund when they shop at 100-plus online merchants, including Walmart, Office Depot, Ace Hardware, and FTD.
“For young families, saving for college is a struggle in the best of times,” said Lee. “The current health crisis and volatile economy have unfortunately made it far worse for many. We’re now expanding access to CollegeBacker to millions of families who will hopefully be able to leverage our innovative and social savings tools to make up for some of the damaging effects of COVID-19.”