Contributing to a Learning Quest account
Contributing to a Learning Quest account is easy and flexible. You can set up recurring contributions or payroll deduction, or make a one-time contribution anytime you prefer:
- Recurring contributions: With recurring contributions you have a pre-determined contribution amount (minimum of at least $25 per month) transferred from a savings or checking account. When you set up a recurring contribution, you put your contributions on auto-pilot - one less thing that you have to remember each month.
- Payroll deduction: Many employees find it easiest to set up a payroll deduction in order to contribute regularly to a Learning Quest account. The minimum for payroll deduction is $25 per month. Since payroll deduction is arranged through an employer, you should first check to make sure that your employer offers this benefit.
- One-time contribution: If wish to make a one-time contribution to open your account, you can do so with as little as $25.
Maximum contribution limit
Learning Quest has a high contribution limit: $370,000 per beneficiary. (This is based on the average expenses of five years of higher education at a private institution.) The limit is reached when the entire value of all the Learning Quest accounts for a beneficiary (both contributions and earnings) equals or exceeds the current limit.