McKeesport, September 11, 2012 – State Sen. Jim Brewster today said families can save $50 by enrolling online in the college savings program operated by the state treasurer’s office this month.
“Through the end of September, the PA 529 GSP plan is offering free enrollment for those who open a new account online this month — saving families the $50 enrollment fee,” Brewster said. “The program is a good way to help families afford the cost of a college education.”
To open or contribute to an account, visit www.PA529.com or call 1-800-440-4000. Constituents may use the code “Brewster” when they enroll online in the PA 529 GSP to waive the $50 enrollment fee.
Have questions about saving for college?
Get answers from Treasury experts.Monday, October 22, 2012 – 7:00pm – 7:30pm
https://www3.gotomeeting.com/register/381997054ednesday, October 24, 2012 – 12:00pm – 12:30pm
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— Learn about the tax benefits of 529 plans.
— Find out how your savings affect financial aid.
— Get tips on how to set savings goals.
— Have your questions answered by program experts.
The contributions made to PA 529 plans are tax deductible and when they are used for qualified education expenses are state and federal tax exempt.
“The PA 529 plan is a key financial tool that helps families plan ahead and manage college costs,” Brewster said. “It is worth adding that grandparents and friends can also contribute to a student’s education.”
Brewster, a longtime advocate of higher education funding, said investing in a PA 529 account is smart and forward-thinking. PA 529 contributions grow at the rate of tuition inflation. He said that if a family saves enough for a semester at a state system university today, there will be enough to pay for another semester at the school in the future – regardless of tuition increases in the future.
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