The Minnesota 529 College Savings Plan is offering a $50 incentive for opening a new account.
Between May 24 and May 31, any U.S. resident who opens a 529 account at mnsaves.org with at least a $50 deposit and makes recurring contributions of at least $25 a month for six months will get a $50 matching contribution.
Money invested in the plan can grow tax-free and be spent on a variety of expenses related to U.S. or foreign colleges or trade schools. Minnesota also offers state income tax breaks for residents who contribute.
The incentive is being offered as part of National 529 Day, on March 29. The number refers to the section of U.S. tax code that pertains to tax-advantaged tuition programs.