Harrisburg, August 29, 2014 – State Sen. Jim Brewster today said that opening a PA529 College Savings Plan can help students offset the rising cost of college debt.

The program is offered through the state Treasury.

“It is important that parents understand what is available to them to help manage the cost of a college education for their children,” Brewster (D-Allegheny/Westmoreland) said.

He noted that the U.S. student debt is now more than $1 trillion so parents should consider opening or contributing to a Pennsylvania 529 Guaranteed Savings Plan (GSP) before August 31 to take advantage of last school year’s lower credit rates. Credit rates typically increase on September 1.

The PA 529 GSP is offering free enrollment – a $50 savings – for all new accounts opened before September 30, Brewster noted.  Families will have a chance to win one of five $529 college savings accounts by registering at PA529.com by September 30.

To open or contribute to an account, visit www.PA529.com or call 1-800-440-4000.

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