News & Press Releases
First “529 Day Baby” at Midtown Medical awarded $1,529 Path2College account
COLUMBUS, GA—While most people don’t associate May 29 with any significance, for Abyra Murray and Montavius Sherrod, this day will always hold a special place in their hearts. Not only did they welcome their new baby, Kylen Adriel Sherrod at 4:01 a.m., they received a college savings contribution for him from the state’s college savings plan.
May 29 (5/29) is known across the nation as 529 College Savings Day, and state-sponsored 529 College Savings Plans use this date to recognize the importance of saving for college. The Path2College 529 Plan once again teamed with Columbus Regional Health to award the first “529 Day Baby” born at Midtown Medical Center on May 29 with a $1,529 college savings contribution.
This is the second year the Path2College 529 Plan has awarded a college savings account to a “529 Day Baby” at Midtown Medical. In 2016, Jayden Harris of Columbus was the first “529 Day Baby” in Columbus.
“The Path2College 529 Plan is a wonderful opportunity for Midtown Medical Center to participate in the future education of one of our patients. The goals of this program align with our mission to serve the needs of children in our great community,” said Cary Burcham, Senior Vice President and System Chief Nursing Officer of Columbus Regional Health.
The Path2College 529 Plan also partnered with Doctors Hospital of Augusta to recognize the hospital’s first “529 Day Baby” and to help raise awareness about financial planning in that region.
“Whether a family has a newborn or a teenager, being a parent comes with tremendous responsibilities and challenges. One of those is planning financially for our children’s futures, and we hope by increasing the knowledge about the Path2College 529 Plan more families will begin saving and have one less thing to worry about as they create a financial foundation to help pay for the costs of college,” said Mitch Seabaugh, executive director of the Path2College 529 Plan.
The Path2College 529 Plan holds promotions throughout the year to raise the awareness of the state’s college savings plan and to encourage families to save for higher education. For the seventh year, the Path2College Newborn Sweepstakes will award one child born in Georgia in 2017 with $5,529 for his or her Path2College 529 Plan, and the hospital where the child is born will win $1,529. For additional details, official rules and to enter, visit www.path2college529.com. No purchase necessary. Void where prohibited.
The Path2College 529 Plan, established in 2002, is Georgia’s tax-advantaged college savings plan families can use to help pay for higher education expenses such as tuition, fees, books, supplies and equipment required for enrollment. Families can invest in a Path2College 529 Plan for as little as $25.
For more information about the Path2College 529 Plan, visit www.Path2College529.com.
Consider the investment objectives, risks, charges and expenses before investing in the Path2College 529 Plan. Visit www.path2college529.com for a Plan Disclosure Booklet containing this and other information. Please read it carefully.
Check with your home state to learn if it offers tax or other benefits for investing in its own 529 plan.
Taxpayers should seek advice from an independent tax advisor based on their own particular circumstances. If the funds aren't used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.
Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.
TIAA-CREF Tuition Financing, Inc., Program Manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributor and underwriter for the Path2College 529 Plan.