Share the gift of education this holiday season

by Lynn RileyChairman of the Georgia Student Finance Committee

Kids outgrow toys and clothes, but when you contribute to their Path2College 529 Plan college savings account, you’re giving them a gift that grows with them. This holiday season, I’d encourage families to consider swapping at least one traditional gift this year for the gift of an education through the state’s college savings plan, the Path2College 529 Plan.

Through the 529 Plan’s Ugift program, families can request and receive gifts that go directly into a child’s college savings, and this has allowed family and friends to give this unique and meaningful gift in an easy and safe way. even contribute $25 A child’s college savings plan can change the way they think about saving and empower them by telling them there is a plan to help them achieve their goals. The State of Georgia Saw an increase in gift giving for the college savings plan – the Path2College 529 plan. Last year, more than 20,000 citizens received gifts to their university’s savings accounts.

While a 529 plan is primarily intended to provide a savings and investment vehicle for college expenses, this money can be used for elementary and secondary tuition, apprenticeship expenses, and qualifying education loan payments. Georgia Citizens can invest in 529 plans for themselves, their children, siblings, grandchildren and friends.

In some cases, the shareholder can receive tax benefits from the state. 529 plan contributions are deducted from Georgia State income taxes up to $8,000 per year for each beneficiary of those participating in the deposit, and $4,000 per year per beneficiary to all others. Georgia Tax benefits related to the Path2College 529 plan are only available to Georgia taxpayers. Qualified withdrawals are not subject to federal or Georgia Income tax. You can learn more about Path2College 529’s plans at

To give the gift of education this holiday season, or learn more about Georgia Path2College 529 Plan Visit, and click on “gift” to learn more about the Ugift program.

Lynn Riley He serves as chair of the Georgia Student Finance Committee, which oversees Georgia Path2College 529 plans and administers state-funded scholarships, grants, loans and lottery programs, ensuring access to higher education for Georgians. Riley previously held the position of Georgia First woman State Treasurer and State Commissioner for Revenue.

Source: Path2College

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