Young Arizonans can contribute to their college savings — here’s how

Arizona State Treasurer Kimberly Yee

Submitted photo/Christopher Barr

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AZ529, Arizona's Education Savings Plan, is a state-sponsored education savings plan where earnings grow tax-free. For more information, visit az529.gov.

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OPINION — School is back in session across the state, making September a busy time for many Arizona families. September is also College Savings Month, and the start of the seventh-annual statewide essay writing contest where students can jumpstart college dreams by winning $529 for their AZ529 education savings plan.

My office, together with AZ529, Arizona’s Education Savings Plan, is asking Arizona fifth and sixth graders: “What is your dream job and how do you plan on achieving it in the future?” Through Oct. 11, all Arizona fifth- and sixth-grade students can share their plans in short essays designed to start important conversations with Arizona families about planning and saving for future education.

Twenty winners will be selected across the state and awarded $529 toward a new or existing AZ529 Education Savings Plan. Winners’ parents or guardians of the winners will be responsible for setting up an AZ529 account if an account does not already exist.

 One winner will be selected from each of Arizona's 15 counties, and at least one winner representing a district, charter, private, tribal or homeschool will be selected.

Entries may be submitted online at az529.gov/essaycontest or by mailing them to 5th and 6th Grade Essay Writing Contest, Attention: Jeffrey O., Office of the State Treasurer, 1700 W. Washington St., #102, Phoenix, AZ 85007. Deadline is 11:59 p.m. (MST) Oct. 11, 2026.

More than just college

Recent updates mean 529 plans are for more than traditional college or university. AZ529 funds may be used at accredited community colleges, technical training schools, vocational trade schools, and apprenticeship programs in any state. AZ529 savings can also be used to pay for a variety of higher education expenses, including tuition, fees, and even internet access. Additionally, AZ529 savings can be applied to K-12 school tuition at private and religious educational institutions.

Peace of mind with 529

529 plans offer peace of mind if teens change their mind about what they want to do after high school. In addition to being able to transfer funds to a sibling, families may also transfer qualified 529 funds, up to $35,000, into their child’s Roth IRA retirement fund, free of any tax, penalty, or applicable income limits. This state-sponsored 529 plan is designed to provide families with an opportunity to confidently save for their child's future educational expenses in a tax-advantaged manner, with eligible tax deductions for contributions made to the account. Accounts can be opened for as little as $15 a month, and plans grow tax-free.

Save for college now

It's never too early and never too late to start an education savings plan for students across our state. Families deserve the opportunity to access higher education without going into debt, and College Savings Month creates opportunities to start conversations and savings that can enrich the future of Arizona’s children.

State Treasurer Kimberly Yee is administrator of the AZ529 Education Savings Plan and chairs the Arizona Financial Literacy Task Force. She’s also a candidate for state superintendent of public instruction. Please submit comments at yourvalley.net/letters or email them to AzOpinions@iniusa.org. We are committed to publishing a wide variety of reader opinions, as long as they meet our Civility Guidelines.