FAQ: What is EdVest?
Even though EdVest has been around for more than a decade, there are still plenty of people who might not know what it is or how they can take advantage of Wisconsin’s College Saving’s Plan!
EdVest is a tuition program that helps families to invest for their children’s educationional future. EdVest is administered by the State of Wisconsin and is managed by Wells Fargo Funds Management, LLC.
EdVest allows individuals to open an account on behalf of a designated beneficiary. All contributions are then placed in a trust fund established by the State of Wisconsin and are directed into special investment portfolios designed and managed specifically for the program. The best part is that the earnings in the account will grow federal and state tax-free in Wisconsin, as well as potentially tax-free in other states, until the time the beneficiary is college bound. The funds are then available to be used to pay for qualified higher education expenses at any eligible school – including two and four-year colleges, technical, vocational, and graduate schools.