PA 529 Investment Plan has Reached $4 Billion in Assets

PA 529 Investment PlanImage via Pennsylvania Treasury
Helping families save for education in a way that meets their budget

HARRISBURG, PA — Pennsylvania Treasurer Stacy Garrity announced this week the PA 529 Investment Plan (IP), a program designed to help families save for education in a tax-advantaged way, has reached a new milestone of $4 billion in assets.

“Pennsylvania has a real need for skilled workers and the PA 529 Investment Plan and the PA 529 Guaranteed Savings Plan are perfect for this. Our graduates have one of the highest student debt loads in the country, so these programs can really increase the ability of our kids to attend some sort of higher education without being saddled with so much school debt,” stated Pennsylvania State Treasurer, Stacy Garrity.

The PA 529 IP is one of two plans offered by the PA 529 College and Career Savings Program. PA 529 plans offer generous tax benefits and can be used to save not only for four-year colleges but also community colleges, many career and technical schools, trade programs, and qualified apprenticeship programs.

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The PA 529 IP features low fees and more than a dozen investment options offered through Vanguard, ranging from conservative to aggressive. Returns are based on financial market performance, which could be higher or lower than the rate of tuition inflation.

Treasury’s PA 529 College and Career Savings Program offers Pennsylvania families the flexibility to use the savings at most schools nationwide. Earnings are tax-exempt and remain tax free when withdrawals are used for qualified educational expenses. Contributions are also PA state income tax deductible and account assets do not affect state financial aid eligibility. Pennsylvanians can open an account with as little as $10.

The PA 529 IP received a Morningstar Silver Rating™ as part of the firm’s Top 529 Colleges Savings Plans for 2020. It is one of just 14 plans in the nation to earn a Silver or Gold rating by the Chicago-based investment research firm.

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Visit www.pa529.com or call (800) 440-4000 to learn more about how to open or contribute to a PA 529 account. For information on all Treasury programs, visit patreasury.gov.

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