Georgia’s Path2College plan opens 250,000th account

ATLANTA — The state of Georgia’s college savings plan, Path2College 529 Plan, reached a milestone recently when the 250,000th account was opened.

State officials announced Tuesday that over the last 12 months, the Path2College plan saw a 41.5% increase in contributions, as well as a 9% increase in new accounts opened.

“Education is a vital building block to help our children achieve success, and we are proud to offer Georgia families a way to help save for continued education,” Georgia Gov. Brian Kemp said in a news release. “Today, we applaud an important achievement as the plan reached 250,000 account owners, but more importantly, we are celebrating that with every account opened, more Georgia children have a financial plan to help them achieve their goals.”

As of May 31, there is more than $4.4 billion saved in the Path2College 529 Plan, and $1.3 billion has already been used to pay for education-related expenses.

For more information about the Path2College 529 Plan or to open a college savings account, visit www.Path2College529.com or call (877) 424-4377. To learn more about the plan, its investment objectives, tax benefits, risks, and costs, see the plan description. Read it carefully. Investments in the plan are neither insured nor guaranteed, and there is the risk of investment loss. Consult your legal or tax professional for tax advice. If the funds aren’t used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.

TIAA-CREF Individual & Institutional Services LLC is the distributor and underwriter for the Path2College 529 Plan.

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