HARRISBURG — Treasurer Stacy Garrity recently announced College and Career Savings Day will be celebrated on May 29.
May 29, or ‘529 Day,’ is noted nationwide as a day to celebrate and promote the savings opportunities that 529 accounts, like the PA 529 College and Career Savings Program, offer to families.
“Our PA 529 plans are tremendous tools to save for a child’s future education,” Garrity said. “Saving for education helps our next generation of students follow their dreams without taking on heavy debt to get the education they need.”
In honor of the 30th anniversary of PA 529, and 529 Day/College and Career Savings Day, Pennsylvanians who open a new PA 529 GSP account through May 31 will be automatically eligible for a chance to win a $5,290 GSP account contribution, or one of 67 county-specific awards of $529 in PA 529 GSP account contributions. Official promotion rules are available at pa529.com/529day.
“There’s still time for families to start saving and be eligible to win significant awards to bolster their new PA 529 GSP accounts,” Treasurer Garrity said. “There’s no minimum deposit to open a PA 529 account, and families can contribute as little as $1 any time they are able. Now is the perfect time to get started saving with PA 529.”
The PA 529 College and Career Savings Program offers two plans, the PA 529 Guaranteed Savings Plan (GSP) and the PA 529 Investment Plan (IP). PA 529 GSP account earnings are based on college tuition inflation rates, while PA 529 IP account earnings are tied to investment choice and financial market performance.
PA 529 accounts can be used to pay for tuition, fees, books, equipment and room and board at technical schools, apprenticeship programs, community colleges, and four-year colleges nationwide.
Both the PA 529 GSP and PA 529 IP offer generous tax advantages, and PA 529 accounts do not affect eligibility for Pennsylvania state financial aid.
Since the program’s inception in 1992, PA 529 accounts have helped families pay for more than $5 billion in qualified education expenses.
For more information, visit pa529.com, email firstname.lastname@example.org or call (800) 440-4000.