BUSINESS WIRE --Governor Sonny Perdue has once again declared September as College Savings Month in Georgia, urging families to save and plan for their children’s higher education by taking advantage of Georgia’s 529 college savings plan, the Path2College 529 Plan.
“As Georgia competes in the 21st century global economy, a college education has become more important than ever for our children,” said Governor Perdue. “I am committed to continuing Georgia’s strong economic growth and I urge parents and grandparents to plan for college by saving early. Together, we can prepare our state by establishing a workforce that is second to none.”
To kick off College Savings Month, the Path2College 529 Plan is teaming up with the football programs at the University of Georgia and Georgia Tech to give away tickets to upcoming UGA and Tech football games and an ultimate fan experience, which includes tickets to the rivalry game on November 29th.
Registration for the Path2College VIP Fan Experience Sweepstakes begins on August 25, 2008 and ends November 16, 2008. During this time, those who register for the Path2College VIP Fan Experience Sweepstakes could win four tickets to one of the following games: the Duke/Georgia Tech game on October 4th in Atlanta, the Vanderbilt/University of Georgia homecoming game on October 18th in Athens, and the grand prize, tickets to the Georgia Tech/University of Georgia game on November 29th in Athens with true VIP treatment for the winner and his or her guests.
The rivalry game on November 29th provides one lucky winner with the ultimate Path2College VIP Fan Experience. The winner will not only get four tickets to the game, but will also receive these great additional prizes:
- Limousine transportation to and from the game
- Pre-game hospitality passes
- Pre-game sideline passes
- Game programs, plus
- An official college football autographed by either Coach Richt or Coach Johnson.
Go to www.path2college529.com by September 28th for your chance to win the VIP Fan Experience to the Duke/Georgia Tech game and by October 12th for the Vanderbilt/University of Vanderbilt game. All entrants will automatically be entered to win the ultimate VIP Fan Experience for the grand prize rivalry game. Be sure to read the sweepstakes official rules and details. Void where prohibited. No purchase necessary.
“Football season is one of the most exciting and anticipated times of the year in Georgia,” said Chuck Penuel, director of the Path2College 529 Plan. “As many parents are sending children off to college, it provides us with a great opportunity to encourage parents with younger children to start saving early while those children are still in elementary school, or even before they’ve taken their first steps.”
Any earnings in the Path2College 529 Plan grow tax-deferred, and withdrawals for qualified higher education expenses are tax-free. In addition, any Georgia taxpayer may take a state income tax deduction of up to a $2,000 per year, per beneficiary for contributions to a Path2College 529 Plan account. A transfer of funds from another state’s 529 college savings plan is not eligible for the Georgia state income tax deduction. Georgia tax forms refer to the Path2College 529 Plan as “Georgia Higher Education Savings Plan” (GHESP).
The Path2College 529 Plan is managed by TIAA-CREF Tuition Financing, Inc. (TFI), a national leader in managing 529 college savings plans. The plan covers tuition and other qualified college expenses such as eligible room and board expenses, books, and fees at both public and private colleges in Georgia and nationwide.
Launched in 2002 as the Georgia Higher Education Savings Plan, the Path2College 529 Plan currently has over $637 million in assets and more than 96,000 accounts as of August 15, 2008.
For more information on the Path2College 529 Plan, visit: www.path2college529.com or call 1-877-424-4377. Chuck Penuel may be reached at (404) 463-0000 or by email at chuckpenuel@otfs.ga.gov.
Consider the investment objectives, risks, charges and expenses before investing in the Path2College 529 Plan. Please visit www.path2college529.com for a Disclosure Booklet containing this and other information. Read it carefully.
Before investing in a 529 plan, you should consider whether the state you or your Beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.
We are required to notify you that the tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. It was written to support the promotion of the Path2College 529 Plan. Taxpayers may wish to seek advice based on their own particular circumstances from an independent tax advisor.
The State of Georgia, its agencies, TIAA-CREF Tuition Financing Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any Account or guarantee its principal or investment return except for TIAA-CREF Life Insurance Company’s guarantee to the Board of Directors of the Georgia Higher Education Savings Plan under the Funding Agreement for the Guaranteed Option. Account value will fluctuate based upon a number of factors, including general market conditions.
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1 comment:
A great way to increase assets in a college savings account is by registering it with Freshman Fund (www.freshmanfund.com).
It's like a registry for college savings. Parents go to the site, attach their 529, create a public profile and email friends and family a link where they can contribute directly into the child's 529 account in lieu of or in addition to the usual birthday/holiday gifts. Great for parents and great for gift givers and it's environmentally friendly gifting.
DISCLOSURE: I’m the founder of Freshman Fund (www.freshmanfund.com). I was at my niece’s birthday party watching her tear through a pile of gifts taller than she was. At the end of the melee my gift was tossed aside into a pile of other forgotten gifts. I spent a-lot of time and money selecting her gift and I though it was a waste. I told her parents that from now on I was just going to contribute to her college savings. I asked them what website to go to in order to that and none existed. So I started Freshman Fund (www.freshmanfund.com).
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