# College Savings Apps CollegeBacker Makes it Easy to Contribute to a Tax-Free College Fund By Joey Haar | Published 2016-09-21 | Tech Source: Trend Hunter, https://www.trendhunter.com/trends/collegebacker References: [producthunt](https://www.producthunt.com/tech/collegebacker) & [collegebacker](https://collegebacker.com/?ref=producthunt) College is expensive, but the CollegeBacker app is making it easier for [parents to save smartly](https://www.trendhunter.com/trends/isave) for their children's futures. CollegeBacker makes use of an unfortunately underutilized financial tool in the US: the 529 College Savings Plan. The 529 is a government-supported savings account that allows people to invest money towards college tax-free, removing future student debt for children. With CollegeBacker, parents can easily open and contribute to their [children's 529 accounts](https://www.trendhunter.com/trends/dive-money). Since the minimum contribution to open an account is just $25, the app is accessible for people in any income range. The CollegeBacker app also allows [other contributors to add money](https://www.trendhunter.com/trends/innovative-payment-app) to the account. This means that grandparents can contribute as well, or parents can ask for donations during their children's birthday parties, for example. ## Trend Insights (Trend Hunter) - Score: 1.3/10 - Popularity: 14% | Activity: 18% | Freshness: 8% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Tech](https://www.trendhunter.com/tech) > [Mobile](https://www.trendhunter.com/mobile) ## Key Themes ### What's Driving This Trend - **529 College Savings Plan:** Disruptive innovation opportunity: Develop technology that simplifies the process of opening and contributing to 529 college savings accounts, making it more accessible for a wider range of individuals. - **Crowd-funding for College Savings:** Disruptive innovation opportunity: Create a platform that enables individuals to easily pool money together for college savings, encouraging family and friends to contribute towards a child's education. - **Mobile Apps for Financial Planning:** Disruptive innovation opportunity: Design a mobile app that offers comprehensive financial planning tools specifically tailored for saving towards a college education. ### Who This Affects Most - **Financial Technology (fintech):** Disruptive innovation opportunity: Develop innovative financial technology solutions that simplify and enhance the college savings process, providing greater accessibility and convenience for users. - **Education and Edtech:** Disruptive innovation opportunity: Integrate technology into the education sector by creating platforms and tools that enable parents, students, and schools to effectively save and plan for college expenses. - **Retail and E-commerce:** Disruptive innovation opportunity: Partner with retailers to create online registries or platforms that allow individuals to easily request and receive monetary contributions towards college savings instead of traditional gifts. ## Related on Trend Hunter - [Teen-Targeting Investing Apps](https://www.trendhunter.com/trends/teentargeting-investing-app.md) - [Kids Finance Apps](https://www.trendhunter.com/trends/foxfund.md) - [Parental Investing Platforms](https://www.trendhunter.com/trends/investing-platform.md) - [Retirement-Focused Investment Apps](https://www.trendhunter.com/trends/retirement-saving-app.md) - [Kid-Friendly Financial Support Apps](https://www.trendhunter.com/trends/financial-lessons-for-kids.md) - [Teen-Targeted Investment Apps](https://www.trendhunter.com/trends/bloom-app.md) - [Teen Finance Education](https://www.trendhunter.com/trends/simplybudget.md) - [Low-Cost Investment Apps](https://www.trendhunter.com/trends/lowcost-investment-app.md) - [Community-Centric Investment Apps](https://www.trendhunter.com/trends/communitycentric-investment-app.md)