July 13, 2020
Augusta, GA–Across the country, states are celebrating May 29 and encouraging families to think about saving in a 529 college savings plan. Georgia is no exception. Today, the first baby born at Doctors Hospital of Augusta was awarded with $1,529 for her Path2College 529 Plan to raise awareness about saving for college.
“This is a tremendous gift and great beginning for baby Cataleya Parker and we are thrilled to be a part of this program each year and want to thank Path2College for partnering with us on this excellent opportunity to excel our youth,” said Doug Welch, CEO at Doctors Hospital. “Saving for a college education is no small endeavor, and getting a jump start at this very moment in her life will really help to make college a reality in her future.”
The Parker family of Augusta, Georgia, welcomed 4 pound 3 ounce baby girl, Cataleya, and she was awarded a college savings contribution before she was even 24 hours old.
“I’m really overwhelmed and extra thankful,” said Shaclifiya Parker. “I received two blessings today, I received a daughter and help with a big bill I’m going to have which is her college fund. To know she has been blessed, we are thankful for that.”
This is the sixth year the Path2College 529 Plan has partnered with Doctors Hospital of Augusta to award a college savings account to a “529 Day Baby.”
“New parents have so much to think about, and college is too often not at the top of the list. We are hoping to change that by helping more families across Georgia with financial planning for their children’s future through the state’s college savings plan–the Path2College 529 Plan,” said Georgia State Treasurer Lynne Riley.
The Path2College 529 Plan is offering new parents across the state a chance to win $5,529 for their new baby’s college savings through its Newborn Sweepstakes. Parents, grandparents and guardians of Georgia babies born in 2020 may go to www.Path2College529.com until April 14, 2021, for official rules, prize details and to enter for a chance to win the 2020 Newborn Sweepstakes. Entrants must be legal residents or taxpayers of Georgia and at least 18 years of age to enter. No purchase necessary. Void where prohibited. Sponsored by the Path2College 529 Plan.
The Path2College 529 Plan, established in 2002, is Georgia’s tax-advantaged college savings plan families can use to help pay for higher education expenses such as tuition, fees, certain room and board costs, books, supplies, equipment required for enrollment, and K-12 tuition. Families can invest in a Path2College 529 Plan for as little as $25.
To learn more about the Path2College 529 Plan, its investment objectives, tax benefits, risks, and costs please see the Disclosure Booklet at path2college529.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors only available for investing in its own 529 plan. 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.