GA College Savings Plan – It All Starts with an Education!

Higher education is the gateway to a child's future. It opens minds, which leads to endless opportunities. And even if your child receives a HOPE Scholarship or other forms of financial aid when the time comes, saving for college now will be a key step in providing flexibility down the road.

Now, thanks to a program offered by the State of Georgia - the Georgia Higher Education Savings Plan¹ - you have a smart and flexible way to help save for future higher education expenses.

It's smart because with the Georgia Higher Education Savings Plan, also known as a 529 Plan, you may be eligible for a state income tax deduction of up to $2,000 per year for each beneficiary². And unlike many other savings vehicles for college, 529 Plans allow your money to grow tax-free. Best of all, money used for qualified higher education expenses is also free from both federal³ and state⁴ income taxes. Qualified higher education expenses include tuition, fees, certain room and board costs, books, supplies, and equipment required for college enrollment and attendance.

It's flexible in that you don't need to know today where your child is going to attend college. Funds in the Georgia Higher Education Savings Plan can be used to pay for qualified higher education expenses at thousands of colleges, universities, vocational and technical schools, or other postsecondary institutions like graduate school, in the State of Georgia or anywhere in the country, even at some schools abroad.

Other than the low management fee, you pay no application fees, sales charges or annual fees for your Georgia Higher Education Savings Plan account. All it takes is $25 to get started. But in order to reach your college savings goals, you should start right away. With the Georgia Higher Education Savings Plan and a regular savings routine, you'll be on your way toward making a higher education more affordable.

To get started, click on one of the links below:

• Plan Overview – Advantages of the GA College Savings Plan
• Investment Options
• Open a New Account
• Access Your Georgia 529 Account
• Savings Calculators
• Ask an Expert

You can also download our informative Program Brochure.

1 If you are not a Georgia resident or have taxable income in another state, you should consider whether that other state plan offers a 529 plan with favorable state income tax or other benefits that are not available if you invest in the Georgia 529 plan.

2 The maximum deduction for each beneficiary decreases by $400 for each $1000 of federal adjusted gross income over $100,000 for a joint return or $50,000 for a separate or single return, and is available when an itemized Georgia income tax return is filed. This tax deduction is available to parents or guardians who own an account for a beneficiary who is claimed as a dependent.

3 The law allowing federal tax-free qualified withdrawals is set to expire on December 31, 2010. Congress may or may not extend the law beyond this date.

4 Withdrawals for qualified expenses are free of Georgia income tax after the account has been open for one year. If you are not a Georgia resident or have taxable income in another state, you should consider whether that other state plan offers a 529 plan with favorable state income tax or other benefits that are not available if you invest in the Georgia 529 plan.