Stack: Enroll Online in PA 529 College Savings Plan This Month and Save
PHILADELPHIA, Sept. 17, 2012 — September is “Saving for College Month” and Pennsylvania families can take advantage of a special offer from the college savings program offered by the state, according to state Sen. Mike Stack.
Families who open a new Guaranteed Savings Plan account online through the Pennsylvania 529 College Savings Program can waive the enrollment fee this month by using the code “STACK” in the online application.
Families can also enter an online contest to win $529 to jump start their college savings.
“Whether your child is still in diapers or close to graduating from high school, it’s always a good time to begin saving for higher education,” Stack said. “PA 529 a smart, safe way for families to invest in their child’s future, especially as tuition costs continue to rise. I encourage families to take advantage of this special offer and give their child a solid start to the future.”
Administered by the Pennsylvania Treasury Department, the Pennsylvania 529 College Savings Program offers two different ways families can invest in their child’s college education: the PA 529 Guaranteed Savings Plan, in which growth is tied to the rate of college tuition inflation, and the PA 529 Investment Plan, in which investment returns are determined by financial markets.
The contributions made to PA 529 plans are tax deductible and state and federal tax exempt when they are used for qualified education expenses.