A College Education: Now Available as a Gift Card
If you’re unsure what to get kids this Christmas, Toys R Us and Babies R Us are offering a gift that keeps on giving.
It may look like your typical gift card, but this piece of plastic gives so much more. Toys R Us and Babies R Us have launched the Gift of College program this November.
It makes it possible for friends and family to contribute to a child’s college savings plan in increments of $25 to $500.
“I’ve never really thought about giving for college. I think college is important so it would be kind of cool to give it to someone that needs it,” said customer Jewell Wiggins.
“I think it’s really great if it’s helping kids. That’s the whole point,” said Shane Mohler.
Gift of College was founded in 2008, but for the first time ever, has physical gift cards available to purchase.
The way the card works is that it directly deposits the funds to a child’s 529 savings plan or student loan account. The earnings that students make through these cards are tax free.
A study from the Journal of Children and Poverty found that kids with savings accounts in their names are six times more likely to attend college.
“Well without an education our future is nothing so I think the greater good is happening,” said Mohler.
The gift cards will be arriving at more than 780 stores throughout the US over the holiday season. Zach Mohler already knows what he wants this Christmas.
“I actually want it for Christmas. It’s awesome. I think it’s going to help me go to college and stuff like that,” said Zach.
Gift of College can also be used for birthday gifts or even by a company as a benefit to their employees.
These Gift of College gift cards will be available to purchase at Toys R Us and Babies R Us stores across the country, but you can also purchase them online at giftofcollege.com.