RICHMOND, Va. (WRIC) — Shoppers at CVS stores across Virginia will now get a chance to help their family and friends pay for college and other educational expenses through the purchase of redeemable gift cards.
Virginia529, a state agency that oversees programs to make education more affordable for families across the commonwealth, has announced a partnership with Gift of College to make its “Invest529” gift cards available at the nearly 300 CVS stores across the state.
“Education is getting more expensive each year and more families are saving in 529 plans for their children’s post-high school education — whether it’s a trade school, a bachelor’s degree, or community college. Parents need creative solutions for funding their children’s post-high school education,” Virginia529 CEO Mary Morris said in a statement.
Now, patrons at any Virginia CVS retail store can purchase Invest529 gift cards with values between $25 to $200. A recipient can then redeem a gift card through GiftofCollege.com and add the card’s value to a new or existing Invest529 account.
Families can establish Invest529 accounts to fund higher education expenses at eligible schools nationwide and even overseas. According to a release from Virginia529, an Invest529 account can be used toward public or private universities, graduate and vocational schools, registered apprenticeship programs, K-12 tuition expenses, and the repayment of select student loans.