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Boscola: Open a College Savings Account Online this Month and Save Money
On September 12, 2012 ·
HARRISBURG, Sept. 12, 2012 – State Sen. Lisa Boscola today said families can save money by enrolling online in the state’s PA 529 Guaranteed Savings Plan (GSP) this month.
“Families can save on the $50 enrollment fee through the end of September when they open a new PA 529 savings plan online this month,” Boscola said. “This savings program, administered by the state Treasurer’s office, helps families afford a college education by spreading out costs over a longer period of time.”
The Northampton County lawmaker said the contributions made to PA 529 plans are tax deductible and state and federal tax exempt when used for qualified education expenses.
“With the rising costs of a college education, the PA 529 plan can be a great asset for families to plan ahead and manage college costs,” Boscola said. “These savings plan accounts also enable other family members and friends to contribute to a student’s education.”
Boscola, who has consistently supported 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. She 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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