How to Set Up a 529 College Savings Plan for Your Child

Saving for your child’s education doesn’t have to be complicated. With a 529 college savings plan, you can begin building a tax-advantaged education fund now—and even make it easy for friends and family to contribute along the way.

In this guide, I’ll walk you step-by-step through how to:

• Set up a Fidelity 529 account
• Link it to PayPal and Cash App for easy gifting
• Create a personalized College Gifting Page for family contributions

Step 1: Set Up a Fidelity 529 Account

Start by going to Fidelity.com and creating an account if you don’t already have one.

1. Log into Fidelity and select “All Accounts.”
2. Scroll down to find the option to open a 529 College Savings Plan.
3. Select your preferences and follow the prompts to enter your child’s information.
4. Note: You’ll be the account owner, and your child will be the beneficiary.
5. Once the account is open, go to your Summary Page and note the 529 account number and routing info. You’ll need this for PayPal and Cash App later.

Step 2: Customize Your College Gifting Page

Fidelity lets you create a personalized gifting page to make it easy for others to contribute.

1. From your 529 summary, click the link to “College Gifting.”
2. Add your child’s name, a short greeting, and a photo to personalize the page.
3. Copy the unique URL you receive—it’s your public page link to share with friends and family.

Step 3: Set Up PayPal Pool for Contributions

1. Create a PayPal account (must be in your name, not your child’s).
2. If you already have one, consider creating a second personal account using a different email to keep college savings separate.
3. Inside PayPal, set up a “Money Pool” for your child’s 529 savings.
4. Link your Fidelity 529 account to your PayPal using the account info you noted earlier.
5. Share the pool link with family/friends. Note that PayPal pools expire after 1 year and must be refreshed.
6. Transfer received contributions from PayPal to your Fidelity account.

Step 4: Set Up Cash App for Contributions

1. Create a Cash App account (must also be in your name).
2. For separation, you may want a second account with a different email.
3. Customize your Cash App tag for easier recognition (e.g., $EmmaCollegeFund).
4. Link your Fidelity account using your debit card first, then remove it and add Fidelity as the destination.
5. Share your Cash App tag with family and friends to receive gifts.
6. Transfer funds from Cash App to the Fidelity 529 account.

“Every great dream begins with a dreamer.” – Harriet Tubman

Make College a Reality—Start Saving Today

By setting up your child’s 529 plan now, you’re giving their dreams a head start—and showing your family and friends how to invest in their future, one gift at a time.