College tuition can be very expensive, and it doesn’t help that the price raises each year. There are so many Americans that have student loan debt. Therefore, it is important to start saving for your child’s education and other expenses early on to have a positive effect on their future. UNest can help do just that.

UNest is a mobile app that can set up automatic recurring monthly contributions and receive gifts from family and friends. Accounts also come with tax benefits to help incentivize you to save even more. Continue reading to learn more about UNest and its features.

UNest previously offered a 529 plan, but it was discontinued in October 2020.

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UNest $25 Sign-Up Offer

Get $25 upon signing up for a new account with the link below.

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UNest Features

UNest can help with all the things you want to save for, such as for all your children’s future goals and milestones. Just download the app and deposit a set amount each month.

UNest accounts are custodial accounts used to hold and protect assets for minors until they reach a certain age. Money can be withdrawn without penalty for any expenses that benefit the child, not just educational ones.

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The best thing about UNest accounts are:

Convenient account setup and management with a mobile app
Choice of 5 investment options to suit your needs
Up to $2,200 of annual tax benefits with the first $1,100 in earnings tax-free
Access to advisor-guided financial planning designed for families
Control how the money is invested and spent until the child becomes an adult
Set up automatic contributions to easily invest
Bank-level security and the strongest encryption to keep your data safe

The minimum amount to invest each month is $25, but the amount invested can be adjusted month-to-month. If you don’t know how much to contribute, you can use the savings calculator to figure out the right amount. The funds are automatically withdrawn each month from your linked checking account.

If you have more than one child, UNest allows you to create multiple accounts and set monthly contributions for each.

UNest Fees

UNest charges a flat $3 monthly fee for account sizes under $50,000. Accounts that are over that threshold are charged 0.25% of the balance. Additionally, the specific investments you buy will have an expense ratio that ranges from 0.030% to 0.10% annually.