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Georgia Higher Eduction Savings Plan

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Question
What is the Georgia Higher Education Savings Plan?

Answer

Visit www.path2college529.com or contact the Plan Administrator at 877-424-4377 for information about the plan.

The Path2College 529 Plan, an authority operated under the Georgia Office of the State Treasurer, gives you a way to start saving today to prepare for a child's tomorrow.

The Path2College 529 Plan is offered by the State of Georgia, with TIAA-CREF Tuition Financing, Inc. as Program Manager. Section 529 plans are offered by states under the federal tax code and may provide significant tax advantages to parents and others who save for future higher education expenses. Savings in the program grow tax-deferred and withdraws for qualified higher education expenses are tax-free. Funds may be used at virtually any college or university in the United States, and many abroad. Contributions up to $2,000 per year, per beneficiary, are eligible for a Georgia state income tax deduction for those filing a single return; and $4,000 per year, per beneficiary, for those filling a joint return. The program currently offers seven investment options, including: two managed age-based funds, a 100% equity fund, a balanced fund, a 100% fixed-income option, a money market option, and a guaranteed option. Accounts may be opened with as little as $25. Georgia state employees may also contribute through payroll deduction with as little as $15 per pay period.

 


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Article Details
Views: 1250 Created on: Jun 15, 2013
Date updated: Dec 18, 2018
Posted in: States, Georgia

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