Two major enhancements to Georgia’s Path2College 529 Plan have gone into effect, making it easier for parents to save up for their children’s college tuition.
The maximum account balance for the Path2College 529 Plan has been raised from $235,000 to $550,000. Additionally, the Georgia Higher Education Savings Plan Board has waived the state administrative fee for account holders, further reducing costs.
Governor Brian Kemp said that these new enhancements will ensure that Georgia will remain one of the best states for an affordable quality education.
Georgia’s Path2College plan is an account that anyone can open to save for their child’s or their own education. The account offers families a state income tax deduction, tax‑deferred growth, and tax‑free withdrawals when used for qualified education expenses.
For more information about the Path2College 529 Plan visit its website.
