ATLANTA, GA – Georgia families have a few weeks left to take advantage of a tax deduction on their 2023 tax return by saving for college through Georgia’s Path2College 529 Plan. Path2College is the only 529 plan to offer a Georgia state income tax deduction.

“Georgia’s Path2College 529 Plan offers Georgia families a unique opportunity to invest in their children’s future in 2024 and receive a tax deduction on their 2023 tax return,” said Georgia Student Finance Commission President Lynne Riley. “The savings plan may be used for qualified higher education expenses such as tuition, room and board, books, supplies and more.”

Georgia taxpayers may be eligible for a state income tax deduction up to $8,000 per beneficiary for those filing a joint return and up to $4,000 per beneficiary for those filing a single return for contributions made to a Path2College 529 Plan account by April 15, 2024. Any earnings on contributions in the Path2College 529 Plan are federal and Georgia income tax deferred. Withdrawals for qualified expenses are federal and Georgia income tax-free, and plans may be opened for just $25, making saving small amounts over time possible for many families.

www.Path2College529.com offers free planning tools to help families create a financial plan, compare savings options, find information and research, and utilize the college savings calculator.

For more information about the Path2College 529 Plan or to open a college savings account, please visit www.Path2College529.com or call (877) 424-4377.

To learn more about Georgia's Path2College 529 Plan, its investment objectives, risks, charges and expenses see the Plan Description 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 for investing in its own 529 plan. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for the Path2College 529 Plan.

 

Contact:
Mitch Seabaugh, Path2College 529 Plan
[email protected]

Jennifer Wiggins, Wiggins PR
[email protected]