Washington, DC, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The College Savings Plans Network (CSPN) is excited to announce “What Can a 529 Do For You?” national sweepstakes during the month of September, giving away almost $5,000.
“College Savings Month is the perfect time to encourage families to begin saving and to build awareness of 529 savings plans. I hope that individuals and families take advantage of this opportunity to not only spark but continue conversations surrounding how to pay for college,” said Rachel Biar, Chair of CSPN and Assistant State Treasurer of Nebraska. “I can’t think of a better way to celebrate how a 529 plan can and will help families prepare for the future than by awarding beneficiaries with college savings contributions.”
Participants will have a chance to answer the question “What Can a 529 Do For You” or “What has a 529 Done for You” and nine winners will be randomly selected from the submitted entries. Those winners will each receive $529 contributions into a new or existing 529 account in any plan across the country. More information can be found here: www.collegesavings.org/sweepstakes.
A 529 plan is a tax-advantaged investment plan designed to help families to save for a beneficiary’s (typically one’s child or grandchild) future education expenses. While commonly referred to as 529 plans, they are formally known as “Qualified Tuition Programs,” as defined in Section 529 of the Internal Revenue Code, and are administered by state agencies and organizations. To learn more, visit https://www.collegesavings.org.
Savings in a 529 plan grow free from federal income tax, and withdrawals remain tax-free when used for qualified expenses. Additionally, many states mirror the federal 529 plan tax advantages by offering state tax-deferred growth and tax-free withdrawals for qualified expenses.
Do not miss out on this opportunity to invest in education expenses by telling us what a 529 can do for you. Enter here: www.collegesavings.org/sweepstakes by October 1st, 2023.
For more information about the College Savings Plans Network, visit collegesavings.org.
Catherine Seat College Savings Plans Network catherine@statetreasurers.org
