With members saving for their children’s college education or who just shelled out thousands of dollars to pay this semester’s bill, credit unions take note: September is National College Savings Month. Congress designated the month in 2003 following requests by the National Association of State Treasurers and the College Savings Plan Network.

It’s not only a reminder about the need to save for college, which can soak up close to $250,000 for four years at a private institution (or about one-third to one-half that at a public four-year college) but a month when several 529 college savings plans are giving away several hundred or several thousand dollars to state residents enrolled in their plans.

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