Children are our most precious assets, and you want to give them the best. But when it comes to the dream of higher education, the reality of skyrocketing tuition can make that dream look out of reach. It doesn't have to be that way.
The Path2College 529 Plan, 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 withdrawals 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 $4,000 per year, per beneficiary, are eligible for a Georgia state income tax deduction for those filing a single return; and $8,000 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.