HARRISBURG, PA — Pennsylvania Treasurer Joe Torsella recently announced the PA 529 College and Career Savings Program, formerly known as the PA 529 College Savings Program.
“For 25 years, hundreds of thousands of families in the Commonwealth have relied on the PA 529 College Savings Program to save for higher education expenses. Since then, a lot has changed – not only for the program, but for the higher education landscape in Pennsylvania. Whether you choose to pursue a job in construction, technology, or public service, having a post-secondary education is an important part of the journey. That’s why I’m proud to announce the PA 529 College and Career Savings Program – a new look for a program that has been helping Pennsylvania families meet their financial and educational goals for 25 years.”
Pennsylvania Treasurer, Joe Torsella
Families that are currently saving in a PA 529 account will not experience any account changes and do not need to take any additional actions.
The PA 529 College and Career Savings Program sponsors two plans – the PA 529 Guaranteed Savings Plan(GSP), which lets families save for tomorrow’s post-secondary education expenses at today’s plan rates, and the PA 529 Investment Plan (IP), which allows account holders to choose how contributions are invested from a list of 16 options. PA 529 IP returns are based on financial market performance, whereas PA 529 GSP returns are based on tuition increases.
Since its inception, the PA 529 College and Career Savings Program has paid over $3.4 billion in educational and related expenses to 2,400 technical and career schools, colleges, and universities on behalf of more than 114,000 students.
To learn more about the PA 529 College and Career Savings Program, or to open an account, please visit pa529.com or call 1-800-440-4000.
Source: Pennsylvania Treasury
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