Posts Tagged ‘Savings plan’

Georgians have a great option for college savings

Since 2002, the Path2College 529 Plan has offered Georgia parents a way to plan for their children’s college education. Grandparents, relatives and friends can also open accounts as gifts or contribute to existing accounts.  You can even open an account for yourself.

Contributions to the plan are eligible for a Georgia income tax deduction up to $2,000 each year for each beneficiary, regardless of income. (Please note that a transfer of funds from another state’s 529 plan is not eligible for the Georgia income tax deduction.  Recapture provisions apply.)  Withdrawals for tuition, books, fees and certain room and board expenses are federal and Georgia income tax-free.

The plan offers multiple investment options with varying degrees of risk allowing you to select the option(s) that best meet your savings objectives. When you set up the account, carefully consider which option is best for you. If you find that you aren’t comfortable with the investment option, you can change your approach once per calendar year.

When students set off for college, funds can be used at private and public schools nationwide and even at many schools abroad.

Open an account with as little as $25. Consider establishing payroll deduction – a convenient and flexible method to help achieve your college savings goals. You can contribute from your paycheck as little as $15 per pay period.  You can stop, start or change your deduction amount at any time.

To start setting savings goals or open a new account, visit the Path2College 529 Plan, or call 1-877-424-4377.

Consider the investment objectives, risks, charges and expenses before investing in the Path2College 529 Plan. Visit www.path2college529.com for a Disclosure Booklet containing this and other information. Please 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.

Account value for the Investment Options is not guaranteed and will fluctuate based upon a number of factors, including general market conditions.

TIAACREF Tuition Financing, Inc., Program Manager.

C19522