Wednesday, December 17, 2008

Make Holiday Gift-Giving Easy This Year By Contributing to the Path2College 529 Savings Plan for Your Loved Ones

(BUSINESS WIRE)--Are you looking for the perfect holiday gift this year? Something that is simple and that you can get without even leaving the comfort of your home, yet a gift that is meaningful and lasts a lifetime? Then what better way to make a long-lasting difference for your child or grandchild than opening or contributing to the Path2College 529 Savings Plan for your holiday gift this year.

“The gift of a college education is priceless, it lasts a lifetime, and every penny saved today can make an impact in your loved one’s financial future,” said Chuck Penuel, Director of the Path2College 529 Plan. “Research by the College Board says that an individual with a four-year college degree will earn approximately $1 million more than a high-school graduate over the course of a lifetime. That means saving for college today could be one of the best holiday shopping decisions you can make to help a young person you love.”

Penuel said that one of the easiest ways to help save early for the future costs of college tuition and other qualified expenses, such as certain room and board and books and fees, for colleges in Georgia and nationwide, is through the Path2College 529 Plan. The plan, which is offered by the State of Georgia and managed by TIAA-CREF, offers seven investment options, low annual asset-based fees, and no sign-up, maintenance or third-party sales fees. Any earnings in the Path2College 529 Plan are federal income tax-exempt, and withdrawals for these qualified expenses are also tax free.

“The Path2College 529 Plan is easy to use and understand, and it makes gift-giving this holiday season simple,” said Penuel. “It is easy to contribute to an existing account or to open a new account. And with the experience of TIAA-CREF, and a program that has almost 100,000 accounts and over a half billion in assets, Georgia families can feel more secure in choosing the Path2College 529 Plan for their college savings.”

At, anyone can start an account for a beneficiary or contribute to a loved one’s account by printing a personalized gift certificate to present to the recipient. Simply go to the Web site, and click on Print a Gift of Education Certificate. Print and fill in the Certificate and then give your contribution and the Certificate to your loved one. Or, call (877) 424-4377 and one of our college savings specialists will assist you. An account can be started or contributed to in amounts as small as $25.

Once an account is established, additional contributions can be made to the account through check or electronic funds transfer. You may contribute as little as $25 per investment option, and you can establish convenient monthly, semi-monthly or quarterly contributions all year-round from your checking or savings account.

“There are numerous benefits to 529 plans,” said Penuel. “If a financial emergency occurs, you can take the money out of the account, with some penalties of course. Your non-qualified withdrawal is subject to federal income taxes as well as an additional 10% federal tax, but it is still accessible if it’s needed. A Path2College 529 Plan account is also transferable, so if your child decides not to attend college, you can transfer it to another eligible member of the family. It’s an excellent program to help your loved one get on the right path. And as the account owner, the parent retains control of the account.”

For more information on the Path2College 529 Plan, visit: or call (877) 424-4377.

Consider the investment objectives, risks, charges and expenses before investing in the Path2College 529 Plan. Please visit for a Disclosure Booklet containing this and other information. 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.

We are required to notify you that 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. It was written to support the promotion of the Path2College 529 Plan. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

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

© 2008 TIAA-CREF Tuition Financing, Inc., program manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributes the Path2College 529 Plan.

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1 comment:

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