[Expired] $100 Bonus for Opening a 529 Plan with ScholarShare [9/1-9/30]

Update 9/2/23:  Deal is back for 2023

Update 9/8/22: Deal is back for 2022 (see this comment for eligible states)

The Offer

Direct link to offer

  • ScholarShare is offering a bonus of $100 when you open a new 529 Plan account with $1,000+

The Fine Print

  • The ScholarShare 529 College Savings Plan (“ScholarShare 529”) is a 529 college savings plan administered by the ScholarShare Investment Board (“SIB”), an instrumentality of the state of California, and managed by TIAA-CREF Tuition Financing, Inc. (“TFI”).
  • To receive a $100 matching deposit (“the Matching Deposit”), eligible individuals must open a new ScholarShare 529 account (for a new beneficiary) online at www.ScholarShare529.com between September 1, 2019 at 12:01 AM Pacific Time (PT) and September 30, 2019 at 11:59 PM PT with an initial deposit of at least $1,000 to be contributed and invested at the time the new ScholarShare 529 account is opened.
  • The initial $1,000 deposit must be received within 10 business days after the account is established.
  • The Matching Deposit will be made to the eligible ScholarShare 529 account on or before 11:59 PM PT on January 15, 2020. Limit: one (1) Matching Deposit per new ScholarShare 529 account per unique accountholder/beneficiary combination.
  • Offer open to legal residents of the 50 states of the United States who are at least 18 years of age or older as of September 1, 2019 and have a social security number or federal taxpayer
    identification number and excludes the following: (a) members, officers, and employees of SIB; TFI and its parent, subsidiaries, affiliates, owners, members, directors, managers, officers, employees, trustees, agents; and their respective immediate family members (spouse, domestic partner, parents, legal guardians, grandparents, grandchildren, siblings, children and “step” of each) and those individuals living in their same household; and (b) FINRA affiliated customers.
  • All taxes and other costs associated with this promotion are solely the responsibility of the recipient and/or beneficiary. Beneficiary for the new ScholarShare 529 account cannot be a beneficiary of an existing ScholarShare 529 account for that account owner.

Our Verdict

We’ve seen a similar deal before, but that was for $50. Upside was that only required a $50 deposit. This is a bigger bonus but requires a much larger deposit. Chuck & I aren’t the people to ask when it comes to these college plans, so make sure you do your own research first.

Notify of

oldest most voted

Laura (@guest_1756806)
December 12, 2023 12:39

 William Charles there’s a new offer. Open a new account. Get a $50 Target GiftCard.Offer valid December 6 through December 15, 2023.

Al kay
Al kay (@guest_1739209)
November 18, 2023 00:17

Received $100 11/17. What are the rules/tax terms in terms of withdrawing the bonus?Better to just leave bonus in account?

Peek (@guest_1738710)
November 17, 2023 11:06

I didn’t expect payout until 2024 but got an alert today and in both accts I see $100 (went in on 11/16):

Contribution – Promotion
Passive Conservative Portfolio
Contribution Year: 2023

newguy (@guest_1738775)
November 17, 2023 11:56

I also received the $100 Bonus today. It was an early payout definitely.

Wolf (@guest_1778142)
January 15, 2024 11:30

When did you create & fund? I set up and invested $1,000 on 9-7-2023 but no bonus yet.

DH7 (@guest_1691845)
September 12, 2023 16:16

Going to try to open 3 accounts for me (Self/Me, Child, P2), and 3 accounts for P2 (P2, Child, P1/Me), and then roll all of them to my local state 529 once bonus posts, hopefully within 2023 to get contribution deduction on state taxes

AG (@guest_1702514)
September 26, 2023 06:57

Be careful with the rollovers. I think you can only roll 1 acccount/beneficiary in a 12 month period

DH7 (@guest_1728736)
November 2, 2023 12:23

This seems to be correct, however at a minimum I could roll one for me, one for p2, and one for child. I am looking into whether it’s possible to roll more tax-free if they’re all managed by the same company

jimmy (@guest_1691327)
September 11, 2023 22:53

Did anyone get any form of bonus confirmation? By email?

Tony (@guest_1692045)
September 12, 2023 20:20

You don’t get any email confirming the bonus and no mention of the bonus during account opening.

Chris (@guest_1690248)
September 10, 2023 15:47

I just opened one for my kid 1. Can someone more knowledgeable tell me if I need to create a new login for my kid 2 or just open a new account within the same login? TIA!

jimmy (@guest_1691319)
September 11, 2023 22:38

same question!

John Anders
John Anders (@guest_1689307)
September 8, 2023 20:49

Best play:
1) 9/X/23 Open w/ $1000
2) After deposit hits, Withdraw $999
3) 1/1/24 Received $100 bonus
4) 1/24/23 a) Withdraw $101 taxable or b) let $101 invest

Could even reuse the $1000 several times during the month for multiple account openings for different Parent/Kid combos

Jeremy (@guest_1690243)
September 10, 2023 15:36

Just opened for C1, seeing if it works using rollover I set up for myself last year

MW (@guest_1693030)
September 13, 2023 18:38

Wouldn’t withdrawing the $999 cause a taxable event/penalty each time?

dizzy (@guest_1688056)
September 7, 2023 10:13

5/29 day deal is better, total of $600 invested for $100 bonus

LEGOProBuilder (@guest_1685343)
September 4, 2023 00:31

Is this offer once per lifetime for each account owner and beneficiary combination?

The terms say: “Beneficiary for the new ScholarShare 529 account cannot be a beneficiary of an existing ScholarShare 529 account for that account owner.”

Alex (@guest_1687468)
September 6, 2023 19:43

Yes, it is effectively once per lifetime because if you close the account, you can’t open a new one for the same beneficiary online, you can only reopen the old account, and you have to call for that.

JOHN m (@guest_1685303)
September 3, 2023 22:20

“Must be contributed and invested.”