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For Immediate Release

July 28, 2016

Save Now! Contribute to a PA 529 Guaranteed Savings Plan before Tuition Rates Rise on September 1

“This is a great program that really helped with paying college expenses for our three children.”

Harrisburg, PA – Pennsylvania Treasurer Timothy Reese today reminded Pennsylvanians to open a new, or contribute to an existing, Pennsylvania 529 Guaranteed Savings Plan (GSP) account by August 31, 2016 to beat the annual September 1 credit rate increases set by colleges and universities. GSP contributions received on or after September 1 use the higher credit rates.

Enrolling in the PA 529 GSP allows college savings to help keep pace with rising tuition costs. For example, if you save enough for one, ten or even more GSP credits today, you will have enough to pay for that many credits in the future, no matter what the cost of tuition may be at that point.

“With college costs continuing to soar, the PA 529 GSP offers parents and grandparents peace of mind that they can help their children and grandchildren access higher education. They know that what they pay for now is what they will receive later, no matter how much tuition may increase.”

Pennsylvania Treasurer, Timothy Reese

The PA 529 GSP may be used at most colleges and community colleges, including out-of-state and career schools, with the tuition inflation level determined at the time of withdrawal.

“This is a great program that really helped with paying college expenses for our three children. The online withdrawal capability that has been added since we started using out saving plan has streamlined the withdrawal process. Everyone with future college student expenses should take advantage of this money saving program. Good work, PA!”

William Grassel of Delmont, PA

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