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More than 300,000 families have saved nearly $7.9 billion with PA 529
Harrisburg, PA — Pennsylvania Treasurer Stacy Garrity announced today that Good Housekeeping has selected 529 Savings Plans to win a 2024 Parenting Award for the second year in a row.
“This award is another testament to how 529 Savings Plans can help families who are saving for education,” Treasurer Garrity said. “I hope this inspires more families to open 529 accounts and begin saving for their child’s future education, no matter where their path takes them. And there’s no better place to save than our own PA 529 College and Career Savings Program. We recently waived fees for the Guaranteed Savings Plan for the third straight year, saving account owners $5.5 million, and the Investment Plan has been named one of the best two plans in the nation by Morningstar.”
In search of the best gear and services for babies, kids and caregivers, the experts in the Good Housekeeping Institute put hundreds of items through the wringer in their Labs with the help of over 200 parent testers. Analysts evaluated the products’ performance and durability in the GH Institute Labs, while parents weighed in on aspects such as ease of use, appearance, comfort and more. Winners were selected based on attributes like quality, innovation, convenience, safety and value.
One of the Good Housekeeping Institute’s parenting pros said this about 529 plans: “Putting savings on autopilot, like $100 a month, does in fact add up to something.” She called them “a real lifesaver when it came time to pay for college!”
The PA 529 College and Career Savings Program helps families steadily and strategically save for future educational expenses like tuition, fees, books, equipment, room and board and more at qualifying technical, collegiate and apprenticeship programs. PA 529 plans offer significant state and federal tax advantages, and saving with PA 529 does not impact Pennsylvania state financial aid eligibility.
The PA 529 GSP allows families to save at today’s tuition rates to meet tomorrow’s tuition costs. Families choose the tuition level they wish to save at – from community colleges up to Ivy League universities. The PA 529 Investment Plan allows families to choose from a variety of investment options and received a Gold Rating from Morningstar in 2023, making it one of the top two 529 plans in the nation.
Families with young children, born January 1, 2019, or later, already have a $100 Keystone Scholars account to jumpstart their education savings. This automatic deposit is available to every baby born in Pennsylvania, and the program uses no taxpayer dollars. Families are encouraged to claim their Keystone Scholars accounts at pa529.com/keystone and open their own companion PA 529 account to continue saving for their child’s future.
There are more than 301,000 PA 529 accounts, including 188,000 PA 529 IP accounts and more than 113,000 PA 529 GSP accounts. Across both plans, families have nearly $7.9 billion saved for future education expenses such as tuition, fees, books, supplies, room and board, and more.
To learn more about saving with PA 529, visit pa529.com or call 800-440-4000.
STACY GARRITY, STATE TREASURER
Information provided to TVL by:
Samantha Heckel
