Eleven-year-old Kira Hill-Filben has it all planned out. She'll study business in college and then open her own restaurant that specializes in nut-free desserts.

Many students her age are still deciding what they want to be when they grow up and if they want to go to college. But even the funding part of Kira's post-secondary education is pretty much taken care of thanks to her grandfather's contributions to her Utah Education Savings Plan account.

UESP celebrated its 10th birthday Friday with recipients, state education leaders and lawmakers who sponsored legislation that enabled the program's creation.

"For 10 years UESP has helped Utahns achieve increased learning potential and knowledge that comes from higher education," said Christine Kearl, the governor's education deputy. "Education will equate to a better quality of life."

In 10 years the savings plan has grown to nearly 79,000 accounts and $1.6 billion.

Former state representative Doug Peterson, who helped open the doors for the program in the mid-'90s, said 10 years ago he saw figures for post-secondary education that scared him.

"I realized we needed to have some way to make college education accessible and affordable for the future generations," Peterson said. "Education is about getting the knowledge to realize your dreams — you can't put a price tag on dreams, but sometimes they can cost a little bit."

The program is a trust fund established by the state of Utah in which investors can set up an account and make contributions by contracting directly with UESP.

The earnings on investments in UESP accounts are federally tax-deferred as they grow. And as long as the funds are used for qualified higher education expenses at an eligible educational institution, disbursements from an account are not subject to federal income tax.

Kearl said UESP can be a strong factor in getting students into college — something that is vital to Utah's economy.

"Nowadays our students don't just need a high school diploma, they must have training beyond high school," Kearl said. "The job market of today and the skill set needed for a good job today doesn't stop with a high school diploma ... and we want parents to let students know there is an expectation for them to continue on in education."

Lynne Ward, UESP director, said the program is highly ranked by Morningstar and is recommended by Newsweek, Money Magazine and the Wall Street Journal.

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E-mail: terickson@desnews.com