The holiday season is in full swing and for many that means thinking about the perfect gift for a loved one. If you’re looking for something unique to gift a child in your life, I have a great option for you – something that will truly impact their life for years to come: a contribution to their PA 529 College account and Career Savings Program.
PA 529 accounts have been helping families save and pay for higher education for nearly three decades – it’s a great savings tool, with great tax benefits.
Anyone can open a PA 529 account for a child in their life and start saving for the future. There is no minimum deposit to open an account, and future contributions can be as small as $1.
And if a child on your gift list already has a PA 529 account, it’s easy to contribute. PA 529 account owners simply use the Ugift feature on pa529.com to create a unique code and then share it with family and friends who want to contribute to a child’s education savings. Here’s another benefit – gift contributions to a PA 529 account are tax deductible, which also means tax savings for you.
When you make a Ugift contribution, you can download a certificate to give to the child. A fun way to present the gift to a child could be to wrap it up with a book about one of their favorite interests to help them learn now and later – what a great way to support their interests now and in the future. years to come.
There are two PA 529 plans to choose from: the PA 529 Investment Plan and the PA 529 Guaranteed Savings Plan. The PA 529 IP offers a wide range of investment options where income is linked to financial markets, while the PA 529 GSP allows families to save at specific credit rates to pay for tomorrow’s tuition at today’s prices.
PA 529 plans let a child know that their family and friends believe in their future dreams, no matter what they want to be when they grow up.
For more information on how to give the gift of education and save with PA 529 and Ugift, visit pa529.com/ugiftcall 800-440-4000 or email pa529@patreasury.gov.
Pennsylvania Treasurer Stacy Garrity is responsible for protecting more than $150 billion in state assets. Among his responsibilities, he oversees savings programs, including the PA 529 and PA ABLE college and professional savings program. Learn more about the Pennsylvania Department of Treasury at patreasury.gov.
