FAQ: Who can contribute to an EdVest account, and how much?
Now onto how much can be invested. Before we go too far, their is a minimum investment of $250 to open an EdVest account. However if you set up an Automatic Investment Plan for at least $15 per month the $250 fee is waived.
Also you can contribute as much money to an EdVest account as you would like, just keep in mind that you may need to consider the gift tax for contributions over $13,000 ($65,000 if pro-rated over five years).
Note: There is a program maximum of $330,000 for the combined balance of all accounts for a single beneficiary. The good news is that even though you cannot contribute any more money to an account that has reached the limit it may continue to grow.
- EdVest Changes Make Saving for College Easier (wistatetreasury.wordpress.com)
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- FAQ: Does EdVest have a flexible contribution option? (wistatetreasury.wordpress.com)
- FAQ: Who can open an EdVest account? (wistatetreasury.wordpress.com)