BabyMint
is a way to save for college by spending money. Every time you purchase an eligible
good or service from a BabyMint company, a portion of the purchase price will
be contributed to your BabyMint account. You are eligible to receive up to 20%
of your purchase price depending on the arrangement the retailer has made with
BabyMint. These accounts are non-interest bearing accounts. BabyMint accounts
can make deposits to any 529 Plan account as long as the plan document indicates
the plan will accept deposits from a third party. In order to maximize the benefit
of a BabyMint account, it should be linked with a 529 Plan, Education Savings
Account, mutual fund or money market account. If you link an account with an education
savings account, BabyMint will deposit assets into your 529 account once the value
equals $25. If you choose to have the rebates mailed to you directly, BabyMint
will do this every quarter the account value equals $25. BabyMint is affiliated
with 700 online and traditional retailers.
Savings
can be made to a BabyMint account for any future college student. A future college
student can be anyone who is a U.S. citizen that wants a higher education. Basically,
it can be anyone whose higher education expenses you wish to pay. Students can
be added at any time. The account holder has ultimate control over the account
and the student does not have access to it.
The
first step in taking advantage of the BabyMint program is to enroll. Go to www.BabyMint.com
to join for free. You can cancel your membership at any time.
Family
and friends can also register with BabyMint and direct contributions to your account
for higher education expenses.
There are several
ways to begin saving with BabyMint, which are as follows:
