AUGUSTA, GA—For one Augusta family, May 29 will always be a special day. Not only did they welcome eight pound, four ounce baby Sage Parker at 5:06am, they were awarded $1,529 for his college savings. The Path2College 529 Plan joined with Doctors Hospital to celebrate national 5/29 College Savings Day by awarding the first baby born at Doctors on May 29 with a contribution to their college savings.
“We try to put something back for our kids every week, but we also instill the importance of keeping their grades up,” said Chris Parker, Sage’s excited dad. “Good grades may mean more opportunities for scholarships and grants.”
May 29 is known nationally as 529 College Savings Day, and states across the country promote the day with special events, incentives and celebrations to increase knowledge and participation in each state’s 529 college savings program.
“We are always looking for creative ways to educate people about the state’s 529 college savings plan, and what better way to reach families and to help a child get a head start on college savings than with a fun promotion like this one,” said Mitch Seabaugh, executive director of the Path2College 529 Plan.
This is the first year the Path2College 529 Plan has awarded a college savings account to a 5/29 Day Baby in Augusta, but Seabaugh says he hopes to make it an annual event.
“We are proud to be part of Sage’s life from the beginning, and awarding this contribution towards his future is sure to make it brighter. I want to thank Path2College for partnering with us on this excellent opportunity to excel our youth,” said Doug Welch, CEO and President of Doctors Hospital.
The Path2College 529 Plan sponsors unique promotions throughout the year, and currently there are two sweepstakes opportunities for Georgia families. The 2015 Newborn Sweepstakes will award one child born in Georgia in 2015 with $5,529 for his/her Path2College 529 Plan, and the hospital where the child is born will win $1,529. The plan also partners with Georgia Public Library Service on the Summer Reading Program Sweepstakes, where children can enter for a chance to win one of four regional prizes of $1,529 toward a Path2College 529 Plan, and one grand prize of $5,529 toward a Path2College 529 Plan. The winners’ libraries also receive contributions. For entry deadlines, prize details and official rules for each sweepstakes, visit www.path2college529.com. No purchase necessary. Void where prohibited.
“Our ultimate goal is to increase the number of Georgia children with college savings plans,” said Seabaugh. “It’s important for their future, as well as the future of our state and our nation to have an educated workforce, and it’s a nice way for us to give something back to Georgia’s children, the libraries, hospitals and schools. We are fortunate to be able to offer this and other opportunities to help Georgia families jump start their college savings plan.”
The Path2College 529 Plan was established in 2002, and through April 30, 2015, almost 25,000 families have withdrawn more than $360 million from the Path2College 529 Plan to pay for education-related expenses. As of 5/22/15, the plan has more than 130,000 beneficiaries with more than $1.8 billion saved.
For more information about the Path2College 529 Plan, to open an account or to find information about the program’s latest sweepstakes, please visit www.Path2College529.com.
**Consider the investment objectives, risks, charges and expenses before investing in the Path2College 529 Plan. Visit www.path2college529.com for a Plan Disclosure Booklet containing this and other information. Please read it carefully.
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 from an independent tax advisor based on their own particular circumstances. Non-qualified withdrawals may be subject to federal and state taxes and the additional 10% federal tax.
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.
Account value for the Investment Options is not guaranteed and will fluctuate based upon a number of factors, including general market conditions.
TIAA-CREF Tuition Financing, Inc., Program Manager.**