(1 Review)

Robo Advisor



Backer is a hassle-free way to set up a tax-free college fund and save more with support from family and friends.



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Over 40 million Americans carry student loan debt – a burden that impacts their ability to buy a home, start a family, and make the most of life. There's a powerful tool called a 529 Savings Plan, which lets you invest tax-free to better afford education costs. Tax-free investing is incredibly powerful: a parent putting in $25 each month could see that grow to more than $8,000 over 15 years! 529 plan also allows for tax-free withdrawals when savings are used for qualified education expenses. 


Backer is your personal education savings coach, helping you navigate the system and get the most out of your 529 Savings Plan. Backer is making the 529 enrollment process super easy and also lets the savers involve family and friends in the process so that they can contribute to 529 Savings Plan. 

Things to Know

  • You make money on

    Value + Dividends

  • Fees


  • Min Investment


  • Payout frequency

    Asset Sold

  • Term of investment

    60+ months

  • Target Return


  • Liquidity


  • Open to

    All Investors

  • Mobile Application

    iOS, Android

Top Perks

  • Tax-free investing: Backer opens premier 529 plan

  • Keep on track: get custom tips for goal success

  • Dodge student debt: unburden kids from loans

How you make money

A 529 plan that you are opening with Backer is not the same as a traditional savings account. Rather than simply earning interest, money added to a 529 plan can be invested, typically in mutual funds, although some plans may also offer exchange-traded funds or individual stocks. Investing in the market typically yields higher returns than simply earning interest. As your returns compound over time, your money has an opportunity to grow faster.


After your account is activated, once your contribution settles, the money from your contribution is invested according to the investment option you've selected. For the plan options Backer recommends, your money is invested across mutual funds. Backer helps you choose an age-based portfolio that automatically adjusts based on the beneficiary's age to become less aggressive and less risky as the beneficiary reaches college enrollment age. 


Through their platform, you'll be able to access account information, automate contributions, set up a gifting page to receive contributions, track your progress, and share goals. You'll also be provided with new ways to save more, such as their cashback rewards program Backer Bucks.

How Backer makes money

They think it's important for every family to have a college savings plan, so they offer a cheap option. They charge a monthly fee of $5, instead of an asset-based fee, so that you are not paying more as you save more. The fee also covers the entire family so that you are not paying more if you have multiple funds for multiple children. Unlike brokers, they do not charge any commissions or initial sales charges. They also do not have any hidden fees or charge extra for their gifting platform or cashback rewards program. Underlying 529 plan expenses range from 0.16% - 0.18% per year.

Is it safe?

As an SEC-registered investment adviser, we have a fiduciary duty to put your interests first and to safeguard your personal information and money.

Backer uses bank-level security to keep your sensitive financial data safe. We use the strongest available browser encryption (256 - bit, which is why you see the green bar), secure servers monitored 24/7/ 365, and identity verification services to protect your personal information. Your actual investment accounts are managed by the 529 plans that we recommend.

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Reviews (1)

Luke Pollock

I love Backer! It only took a few minutes to get set up and now I've been with them for a few years. My money (or daughter's money, I should say) has grown significantly and I think I'm on track to help her go to college without student loans. Great customer support as well.