Nebraska Treasurer Spotlights College Savings Month
Nebraska State Treasurer Joey Spellerberg is spotlighting September as College Savings Month in Nebraska. With the cost of higher education continuing to rise, this month emphasizes the importance of supporting and encouraging students and families to plan for the future.
“As education and training opportunities continue to evolve, Nebraska families deserve flexible tools to help them prepare for what comes next,” Treasurer Spellerberg said. “The Nebraska Educational Savings Trust (NEST 529) offers a tax-advantaged way to save for a wide range of education paths — from colleges and universities to trade schools, apprenticeship programs, and now even recognized credential and certification programs. College Savings Month is an important reminder that preparing for future education expenses can begin at any time, and even modest, consistent contributions can be a meaningful part of that preparation.”
This College Savings Month, parents and guardians should take the opportunity to discuss how a NEST 529 Education Savings Plan account can help their loved ones reach their goals. Higher education costs continue to rise above the rate of inflation1 and extend beyond just tuition and board to include books, laptops, institution fees, and more. According to College Board, a non-profit organization that helps students navigate the path to post-secondary education, in 2025-26, the average yearly costs2 of higher education tuition and fees for a full-time student are as follows:
- Public, two-year institution: $4,150 ($110 higher than in 2024-25)
- Public, four-year, in-state institution: $11,950 ($340 higher than in 2024-25)
- Public, four-year, out-of-state institution: $31,880 ($1,060 higher than in 2024-25)
- Private, non-profit, four-year institution: $45,000 ($1,750 higher than in 2024-25)
Scholarships and grants can help offset education costs, but they may not cover every expense. Families may still need to plan for costs such as tuition, fees, books, supplies, technology, and certain room and board expenses. A NEST 529 Education Savings Plan account offers a tax-advantaged way to prepare for many of those qualified education expenses.
“As NEST 529 celebrates 25 years this year, College Savings Month is the perfect time to encourage families to begin saving and to build awareness of Nebraska’s state-sponsored NEST 529 savings plans,” said Rachel Biar, Deputy State Treasurer for Savings Programs. “Whether families are just beginning to save or already have an account, even small contributions over time can help them prepare for a child’s education and career goals.”
With no minimum deposit required to open an account and contributions that can be managed online, families can start saving at any time with a NEST 529 account. Account owners in Nebraska may be eligible for an annual state income tax deduction of up to $10,000 for NEST 529 contributions, or $5,000 if married filing separately3. Earnings grow tax free, and qualified withdrawals may be free from federal and state income taxes4, providing even greater savings potential.
Visit NEST529.com to learn more about the benefits of a NEST 529 Education Savings Plan.
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