By: Staff Reports | Gwinnett Citizen
By: Staff Reports | Gwinnett Citizen

Path2College 529 plan gives families 25,000 reasons to think about saving for college in 2014

ATLANTA – With the New Year comes new opportunities, and one Georgia program is launching a sweepstakes that is intended to provide a child with the opportunity to achieve his or her dreams by helping pay for a college education. Today, the Path2College 529 Plan, the state of Georgia’s 529 college savings plan, kicked off its $25,000 Reasons to Save Sweepstakes, which will award one Georgia child with $15,000 for his or her college education and the winner’s school will also receive $10,000.

“After the holidays, finances are on the minds of many families. We want to remind Georgia parents and grandparents to think about the importance of saving for college as they do their financial planning for the year,” said Mitch Seabaugh, executive director of Georgia’s Path2College 529 Plan.

Seabaugh said this sweepstakes gives families 25,000 reasons to think about college savings, “but they really need only one reason – their child,” Seabaugh added. ”Entering is simple.”

“All you have to do is go online and enter for a chance to win,” said Seabaugh. “There’s nothing to lose by entering, and both a child and his or her school have a lot to gain.”

Seabaugh said that while parents and grandparents are online entering the sweepstakes, we hope they will take a moment to evaluate their college savings goals and start or contribute to a Path2College 529 Plan for their child.

The Sweepstakes is open to Path2College 529 Plan account owners (regardless of state of residency) and non-Path2College 529 Plan account owners who are Georgia residents twenty-one years of age or older. All entrants must be a parent, legal guardian or grandparent of a child age eighteen or under (at the time of entry) who is a Georgia resident. The sweepstakes official rules, prize details and entry form are available at http://www.Path2College529.com. No purchase necessary. Void where prohibited.

“It’s simple—we want to encourage families to save for college, and by offering the chance to win what is about the cost of a year’s tuition at a state school,we hope to get more Georgians saving and establishing the financial foundation that is needed to offset college costs,” said Seabaugh.

Throughout the sweepstakes, which runs from January 10 through August 10, 2014, Seabaugh will be traveling across the state to talk with civic organizations, schools and other groups to inform them about Georgia’s Path2College 529 Plan, and to remind families about the importance of financial planning for their child’s education.

“Our goal is to reach more families each year and get more children on the path to college,” said Seabaugh.

Seabaugh said that while most families might not be able to save the full amount of their child’s education, planning and saving now will still give them an advantage for tomorrow. “Every dollar saved today is potentially one less dollar that may need to be borrowed,” Seabaugh commented.

“Instead of being overwhelmed, we want to remind parents that even though college tuition costs are rising, it’s not an insurmountable goal,” said Seabaugh. “Families who save small amounts over time will be better prepared for the college costs, and we are here to help them prepare for it.”

The Path2College 529 Plan allows families to open and contribute to an account with as little as $25 at a time, and the contributions have both federal and Georgia tax advantages. For more information about the plan or to enter the 25,000 Reasons to Save Sweepstakes, please visit http://www.Path2College529.com.

Consider the investment objectives, risks, charges and expenses before investing in the Path2College 529 Plan. Visit www.path2college529.com for a Disclosure Booklet containing this and other information. Please read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.

The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non-qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax.

Account value for the Investment Options is not guaranteed and will fluctuate based upon a number of factors, including general market conditions.