News & Press Releases
Acworth child celebrates first birthday with $5,529 Path2College contribution
ACWORTH, GA — For Luca R. Alonzo, grandparents contributing toward college is a family tradition, and one that helped him kick-off his college savings in a big way. Today, Alonzo was awarded $5,529 for his Path2College 529 Plan account as the winner of the 2016 Path2College Newborn Sweepstakes. Alonzo’s grandfather, John Kraft, entered him in the sweepstakes.
“Our parents contributed to college funds when our daughters were young, and 529 plans have been instrumental in their path to college. That’s why we have been considering how to start one for our new grandson,” said Kraft. “We were so excited to receive this great head start from the Path2College Newborn Sweepstakes. With a variety of investment options, respected fund management and a long-term outlook, we are confident this will make a great contribution to his college education.”
Alonzo was born on August 14, 2016, at Cartersville Medical Center. As part of the sweepstakes, the hospital will also receive a prize of $1,529.
“We are thrilled to learn that a Cartersville Medical Center baby was selected to receive the Path2College Newborn Sweepstakes award this year! We’re proud to partner with Path2College and congratulate the Alonzo family for receiving a great start to their child’s future,” said Ginger Tyra, director, Marketing and Public Relations, Cartersville Medical Center.
More than 2,800 parents and grandparents entered the Path2College 529 Plan Newborn Sweepstakes during 2016.
“While not everyone that enters the sweepstakes opens a savings account, by taking the time to go to our website and enter they are at least becoming aware of the state’s college savings plan and the benefits it provides,” said Mitch Seabaugh, executive director of the Path2College 529 Plan. “And, that’s our goal— raise awareness among Georgia families about this saving tool, and to hopefully inspire them to begin saving for their loved ones.”
2017 marks the seventh year that Path2College has held its statewide Newborn Sweepstakes. The 2011 winner—Emma Hayward, the 2013 winner—Charlie Rayn Grant, the 2014 winner—Clara Grace King, and the 2015 winner—Bryce Wilson, were each born at Northside Hospital in Atlanta. The 2012 winner, Darron Lenon, was born at Doctors Hospital in Augusta. The 2017 Newborn Sweepstakes winner will be announced in 2018.
Since the Path2College 529 Plan was established in 2002, more $590 million has been withdrawn to pay for qualified higher education expenses for almost 36,000 students (as of 6/30/17). Additionally, as of June 30, 2017, $2.3 billion has been invested to pay future education-related expenses.
“We want to continue to see these numbers rise, ensuring that more Georgia children have a solid financial plan to help them continue their education and achieve their dreams,” said Seabaugh.
On January 1, the Path2College 529 Plan kicked off the 2017 Newborn Sweepstakes. Parents, grandparents and guardians of Georgia babies born in 2017 may go to www.Path2College529.com until April 14, 2018, for official rules, prize details and to enter for a chance to win the 2017 Newborn Sweepstakes. Entrants must be legal residents or taxpayers to Georgia and at least 18 years of age to enter. No purchase necessary. Void where prohibited. Sponsored by the Path2College 529 Plan.
For more information about Path2College or to enter the 2017 Newborn Sweepstakes, please 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.