Fifth Third Gives Families a College Savings Head Start - Seite 2

The average total cost for a year of college at a four-year school — including tuition and fees, on-campus room and board, books, supplies, and other expenses — is more than $36,436; or roughly $146,000 over the course of four years¹. And the cost of trade school can be up to $22,000 annually.²

Three tips for getting started with a college savings account

Patricia Roberts is the chief operating officer of Gift of College and author of Route 529: A Parent’s Guide to Saving for College and Career Training with 529 Plans.

When it comes to starting a savings account for your child, Roberts offers the following tips to new parents:

1. Explore your state’s 529 plan options and open an account as soon as possible.
2. Set up automatic contributions from your paycheck or bank account.
3. Invite friends and family to contribute for birthdays, holidays and other special occasions.

Sweepstakes for all

You don't have to be born on 5/3 to start saving for a sunny future! Fifth Third is extending its Fifth Third Babies gift of $1,053 to go toward a 529 college savings plan to all communities with the Fifth Third Babies Sweepstakes³. Parents can enter to win $1,053 by following Fifth Third Bank and commenting on a sweepstakes post on Facebook and Instagram between May 13 and 29. Five winners will receive a head start on their college savings fund.

About Fifth Third

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association, is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.

¹According to BestColleges.com, based on 2021-2022 data.