WEST HARTFORD–For the first time, two children’s stores now offer college savings gift cards.
Toys R Us and Babies R Us are offering physical gift cards for 529 college savings and student loan accounts. It’s through GiftofCollege.com, an online registry for college savings gifts.
The gift card can be applied to an existing 529 plan, to open a new plan, or to existing student loans.
GiftofCollege.com gift cards have been available online for some time, but this is the first time you can pick up a physical gift card at a retail location. The roll out began in California in October, but hit all 850 stores nationwide–including in Connecticut–on Tuesday.
A 529 plan “is a tax-advantaged savings plan designed to encourage saving for future college costs,” according to the U.S. Securities and Exchange Commission. You can learn more about them here.
