Path2College Provides Tools to Make Saving for College Simple, Automatic
published October 30, 2023
ATLANTA – The state of Georgia’s Path2College 529 Plan has established a process to make saving for college simple, and in many cases automatic.
"Georgia's Path2College 529 Plan was designed to be accessible and affordable," said Georgia Student Finance Commission president Lynne Riley. "We have looked at every step of the savings process to create a savings plan that is user-friendly from start to finish."
Riley said that by automating several steps for saving, families are able to grow their savings regularly over time.
How can you join the more than 112,000 Georgia families who are saving for college through the state’s Path2College 529 Plan? Here are a few simple steps families should explore to help achieve their savings goals.
Quick and Simple Set-Up.
You can open a Path2College 529 Plan account for a child or loved one in a few simple steps. Families can open an account through an online enrollment process, which you can walk-through via video on the website (www.Path2College529.com), by downloading the enrollment materials on the website or by calling (877) 424-4377.
There is not one size fits all when it comes to saving. That’s why there are multiple ways to contribute, as well as ways to set-up automatic contributions in a Path2College account. With automatic savings options including payroll direct deposit, bill pay, or recurring contributions from a checking or savings account, families can customize a savings plan to fit their needs.
Account owners have an opportunity to sign-up for automatic annual increases by indicating the amount of the increase, and the timing (which month) to start the new increased amount. This takes the guesswork out of saving for many families, and it ensures that the amount families are saving increases as the child gets older.
"The most important step is for families to open an account sooner rather than later. Saving regularly over time will help build a strong financial foundation for a child’s future," said Riley.
To learn more about Georgia's Path2College 529 Plan, its investment objectives, risks, charges and expenses please see the Plan Description at path2college529.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for the Path2College 529 Plan.