Ugift, the giving platform for 529 and ABLE college accounts, hit a $500 million benchmark this week, announced Ascensus, a tech service provider that manages the gifting platform.
This marks another victory for Ascensus. Ugift launched in 2007 and received its first $100 million in contributions only a few years ago.
Ugift allows friends and families of 529 and ABLE account holders to contribute electronically, with a mailed check or through their bank accounts. However, Ascensus said there’s a strong preference for electronic gifting when it comes to 529s.
Ascensus services over 7 million customers, and Ugift's latest achievement means that 25,000 students could be funded for a year at a public (in-state) four-year institution, the company said.