HARRISBURG, PA — Pennsylvania families with Guaranteed Savings Plan accounts will avoid $5.9 million in asset-based fees over the next year after the state waived the charges for a fifth consecutive year, extending a program intended to reduce the cost of saving for future education expenses.
Pennsylvania Treasurer Stacy Garrity announced the waiver applies to PA 529 Guaranteed Savings Plan (GSP) account statements covering July 1, 2026, through June 30, 2027. The Treasurer’s Office said the waiver is funded through surplus earnings generated by the GSP fund.
Since Garrity took office, the Treasury Department has reduced or eliminated multiple PA 529 fees, resulting in nearly $28 million in savings for account holders, according to the agency.
The PA 529 GSP allows families to save for future education costs using current tuition rates. Account earnings are tied to tuition inflation, and participants can select tuition levels ranging from community colleges to Ivy League institutions.
The Treasury Department noted that many PA 529 GSP tuition credit rates are scheduled to increase after Aug. 31, 2026, meaning families who contribute before that date may lock in lower rates.
“Hardworking Pennsylvania families count on PA 529 to pave the way for their children’s future,” Garrity stated. “By waiving these fees for PA 529 GSP account owners, we put more money back into their pockets, allowing their savings to grow faster and empowering families to meet their savings goals.”
PA 529 accounts can be used for a range of qualified education expenses, including tuition, fees, books, supplies, room and board, as well as certain apprenticeship, credential and K-12 education costs. The accounts also provide state and federal tax benefits, and assets held in PA 529 accounts do not affect eligibility for Pennsylvania state financial aid, according to the Treasurer’s Office.
The Treasury Department also offers the PA 529 Investment Plan, which it noted has received Morningstar Gold ratings for three consecutive years.
According to the Treasurer’s Office, more than 342,000 PA 529 accounts are currently open across the Guaranteed Savings Plan and Investment Plan, with combined assets exceeding $10 billion.
More information is available at pa529.com or by calling 800-440-4000.
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