News & Press Releases
Georgia Declares September College Savings Month
In an effort to raise awareness about the importance of saving for continued education, Governor Brian P. Kemp officially designated September as College Savings Month in Georgia.
In support of the nationwide initiative, Governor Kemp’s proclamation states that he “encourages Georgians to start the financial planning process for education beyond high school as early as possible.”
Georgia’s Path2College 529 Plan is leading the state’s effort in promoting conversations around postsecondary financial planning.
Administered by the Georgia Student Finance Commission, the Path2College 529 Plan manages more than $4 billion in assets that families have available for continued education. By assisting account holders in growing their investment in education through a tax-advantaged 529 account, Path2College’s success has allowed for thousands of beneficiaries to work toward their educational goals.
“The Path2College Program has seen record-breaking growth over the last year, which is excellent news for individuals who have invested in a 529 account,” said Georgia Student Finance Commission President Lynne Riley. “Planning for education beyond high school is a crucial step in the postsecondary process, and we want to continue to ensure graduates have the necessary resources to enter the workforce as financially secure professionals. The Georgia Student Finance Commission is proud to join Path2College in celebrating College Savings Month by increasing the conversation around financial literacy and promoting college saving practices.”
Over the last 12 months, the Path2College 529 Plan saw a 41.5 percent increase in contributions, as well as a 9 percent increase in new accounts opened. Additionally, families have already used more than $1.3 billion to pay for education-related expenses.
“To participate in College Savings Month, we hope that families and students will take a few minutes during September to explore all of the available resources offered by the state of Georgia to help them plan for continued education,” said Riley. “It’s never too early or too late to start preparing for postsecondary expenses.”
For more information about the Path2College 529 Plan or to open a college savings account, please visit www.Path2College529.com or call (877) 424-4377.
To learn more about the Path2College 529 Plan, its investment objectives, tax benefits, risks, and costs please see the Plan Description at path2college529.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors only available for investing in its own 529 plan. Consult your legal or tax professional for tax advice. If the funds aren’t used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.
TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for the Path2College 529 Plan.