What is the Scholars Savings Program?
The Scholars Savings Program (SSP for short) is a college savings program. The goal of this program is to help families start up a college savings for a child to help pay for higher education expenses.
Through this program you can open a 529 college savings plan for your child or a relative. A 529 plan is a special kind of savings plan authorized by Congress in 1996 to help families save for college from an early age. Accounts you open through the Scholars Savings Program are opened with the Utah Educational Savings Plan (or UESP for short).
UESP is a partner of the El Monte Promise Foundation and in charge of providing the 529 plans. Other 529 plans exist in the United States, in fact each state has at least one 529 provider. However, the El Monte Promise Foundation is working with UESP to offer 529 plans at no cost to open, and no minimum deposit to save!