The gift of education for the holidays

(FOX Providence) - Black Friday and Cyber Monday have come and gone and the holiday shopping season is in full swing. With all the rushing around, trying to find the perfect gifts for friends and family, it’s easy to forget that some gifts have a lasting impact. 

CollegeBound fund has launched a holiday ad campaign to remind people that it’s a good time to give a gift that will last a lifetime…the gift of education. 

Peter Kerwin, from the Rhode Island Higher Education Assistance Authority, joined The Rhode Show to talk more about it.

What is CollegeBoundfund offering for the holidays?

It’s easy to get caught up in the hype and feel like you have to scramble for this year’s “hot” gift—the Xbox system, the Tickle-Me-Elmo doll, whatever it is that we think everyone is getting this year.  And of course, we run around, we get the gift, put it under the tree, get a great reaction and about a month later, it’s collecting dust. 

This year, we’re asking people to do something a little different, to think about giving a gift that really lasts.  We’re suggesting they open up a CollegeBound fund account for a loved one or make a contribution to an existing account.  It’s a way to help the children in your life make their dreams come true and it’s really a great way to let them know that you believe in their future.  It sends a message that we believe in you and want to get you on the right track to a successful career.

And we’ve created a new online gifting tool at www.collegeboundfund.com/ri which allows existing accountholders to send out invitations to friends and families to make gifts to a loved one’s CollegeBound fund account.  If you are someone looking to make a contribution to an existing account, you can go there and print out a form, get some information from the accountholder and send it in to make your gift.  Either way, the recipient gets an acknowledgement card letting them know that a gift has been made for their future education.

So the idea is to give a gift that keeps on giving?

That’s exactly right.  Over the last few months, we’ve frequently talked about the rising costs of college education and how students and their families are scrambling to deal with it.  The application process has gotten more competitive and so has the search for scholarships and grants.  At the same time, we see students taking on greater levels of debt in order to pay for going to the college of their choice.  A CollegeBound fund account helps families get an early start on saving for a college education and it will help reduce the level of debt students face once they leave school and enter the job market.

It’s always busy around the holidays, but making a contribution to a CollegeBound fund account now is a great way to give a really meaningful gift that will make a difference for the children in your life.