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September Declared College Savings Month in Georgia, Across the Nation

Sep 20, 2022

ATLANTA–Across the nation, there are nearly 16 million 529 college savings accounts with nearly $458 billion saved, according to the College Savings Plan Network. In Georgia, families have nearly $4.5 billion saved in more than 218,000 in the state’s Path2College 529 Plan.

Additionally, families have already used almost $1.8 billion from the Path2College 529 Plan to assist with college expenses.

To encourage Georgia families to start the financial planning process for education beyond high school as early as possible and continue this savings momentum for Georgia children, Governor Brian Kemp proclaimed September as College Savings Month.

The proclamation states that “To aid in bridging the gap to higher education, the State of Georgia created the Path2College 529 Plan,” which is Georgia’s official college savings plan, and the only 529 plan that offers Georgia taxpayers a deduction off of their state income taxes. Further, according to the proclamation, “Students who enter college with some amount of savings are more likely to graduate with lower or no education-related debt and more likely to enter the workforce as fiscally secure professionals.”

These facts, along with the increasing value of education beyond high school, prompted Georgia to once again join states across the nation to recognize and officially promote the importance of college savings during September.

The state’s Path2College 529 Plan provides families with tools, like savings calculators, risk tolerance information and research on saving at Families can determine their needs and open an account with as little as $25.

To learn more about the Path2College 529 Plan, its investment objectives, tax benefits, risks, and costs please see the Plan Description at Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. Consult your legal or tax professional for tax advice.

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