What is the Path2College 529 plan?

What is the Path2College 529 plan?

The Path2College 529 Plan is a state-sponsored, tax-advantaged 529 college savings plan that’s helping families and individuals plan for the cost of education.

How does GA 529 plan Work?

When you contribute to a Path2College529 Plan account, any earnings can grow federal and Georgia income tax-deferred until withdrawn. Plus, withdrawals used to pay for qualified higher education expenses will be free from federal and Georgia income tax.

How much does it cost to open a 529 plan?

Most 529 plans don’t charge you a fee for opening an account, though you will be required to make an initial deposit to start choosing investments. There are, however, fees you will need to pay to maintain your account: underlying and administrative fees.

How do I withdraw money from my 529 plan in Georgia?

You can call your plan administrator, make a request online, or submit a withdrawal request form. The plan can send withdrawals by check to the account owner, the beneficiary, or the school. You can transfer the money to yourself or the beneficiary electronically and then make payment to the school.

Does a 529 plan have an age limit?

There are no time or age limits on using a state 529 college savings plan. Money can be kept in a 529 plan indefinitely. 529 plans can be used for graduate school, not just undergraduate school, and can be passed on to one’s children. There is also no age limit on contributions to a 529 plan.

Can a grandparent open a 529?

Grandparents hoping to chip in for a grandchild’s college education can open a 529 plan themselves or contribute to a parent-owned account. In many cases it may be easiest to list the child’s parent as the owner of the 529 plan.

What is the path2college 529 plan?

Path2College 529 Plan. In 1996, Section 529 of the Internal Revenue Code was created by Congress allowing states to set up their 529 plans with certain tax benefits. Georgia’s 529 Plan was established in 2002 and currently the plan allows Georgia tax filers to deduct up to $4,000 per year, per beneficiary if filing a joint state income tax return.

Why choose path2college?

More reasons Path2College is a smart choice—lower fees and a streamlined investment menu. You could win a $5,529 account for college. . Access timely market commentary and analysis. Email This Page? Our customer phone centers will be closed after 6 PM ET on Friday, April 19, 2019.

Is path2college closed on April 19 2019?

Our customer phone centers will be closed after 6 PM ET on Friday, April 19, 2019. We will be open for normal business hours on Monday, April 22. Getting Started is Easy… Learn about the benefits of the Path2College 529 Plan, how it works, the tax advantages, and how the funds can be used.

How can I Help my Loved One plan for college?

There are a few simple steps you can take to help plan for your loved one’s future. There are so many ways the Path2College 529 Plan can help you reach your college dreams. Helping your employees and clients save for college helps you too.