Path2College 529 Plan
Making sure one day they arrive safely at a college dorm means saving for the future today. Higher education expenses can be made easier with the state of Georgia’s official college savings plan- Path2College 529.
Saving now can offset the future costs of college tuition and other expenses.
In 1996, Section 529 of the Internal Revenue Code was created by Congress allowing states to set up their 529 plans with certain tax benefits.
Georgia’s 529 Plan was established in 2002 and currently the plan allows Georgia tax filers to deduct up to $4,000 per year, per beneficiary if filing a joint state income tax return. Individual and Head of Household filers can deduct $2,000 per year, per beneficiary. Earnings in the account are tax deferred and withdrawals taken from the 529 plan for postsecondary education expenses are federal and state tax free.
For more information about this benefit and other advantages, visit Path2College 529.