College Savings Accounts

If your child dreams of attending college, Dollars for College can help them get there, giving you a safe, easy and affordable way to open a children’s savings account for college.

Through Dollars for College, United Way of Metropolitan Dallas and our partners offer a simple way to save for your child to go to college.

Opening a college savings account for your child can have a huge impact: With $500 saved, your child is three times more likely to attend college and four times for likely to graduate. Completing college can set a child up for a good-paying job, career advancement and a lifetime of financial security.

Benefits:

  • Open a Dollars for College account online at any time.
  • No initial deposit needed, no minimum balance, and no enrollment fees.
  • There are no age, income or residency restrictions, and you can choose from a range of investment options.
  • If your child attends Lancaster or Richardson ISD, the district will make an opening deposit of $50 in your child’s account.

Open an Account Today

  • My child attends school in Lancaster ISD: Sign up
  • My child attends school in Richardson ISD: Sign up
  • My child attends a different school district: Sign up

How does it work?

Dollars for College uses an innovative 529 plan to open a high-quality, low-cost college savings account. Over the years, you can make deposits yourself and encourage family members and friends to make deposits for your child on special occasions (birthdays, holidays, etc.). Every dollar saved goes toward your child’s future.

Funds from a my529 children’s savings account must be used for qualified higher education expenses of your child at any eligible educational institution in the United States or abroad that participates in federal student aid programs.

Qualified higher education expenses include:

  • Tuition and mandatory fees
  • Books, supplies and equipment required for enrollment
  • Computers and peripheral equipment, educational software and internet access
  • Room and board for students enrolled at least half-time
  • Services a special-needs child requires to enroll or attend a post-secondary school
  • K-12 tuition expenses at public, private or religious schools

Parent Resources

For more information, contact the Dollars for College Program Administrator at DollarsForCollege@unitedwaydallas.org

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