{"id":138299,"date":"2024-12-10T12:32:06","date_gmt":"2024-12-10T17:32:06","guid":{"rendered":"https:\/\/www.thevalleyledger.com\/?p=138299"},"modified":"2024-12-10T12:32:06","modified_gmt":"2024-12-10T17:32:06","slug":"treasurer-stacy-garrity-encourages-families-to-give-the-gift-of-education-this-holiday-season","status":"publish","type":"post","link":"https:\/\/www.thevalleyledger.com\/?p=138299","title":{"rendered":"Treasurer Stacy Garrity Encourages Families to Give the Gift of Education this Holiday Season"},"content":{"rendered":"

Ugift makes it easy for family and friends to contribute to PA 529 accounts<\/em><\/strong><\/p>\n

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Harrisburg, PA\u00a0<\/strong>\u2014 Pennsylvania Treasurer Stacy Garrity is encouraging families to give the gift of education this holiday season with the\u00a0PA 529 College and Career Savings Program<\/a>. Family and friends can help save for a child\u2019s future education with PA 529\u2019s\u00a0Ugift feature<\/a>.<\/p>\n

\u201cSaving for the education of a child in your life is the perfect gift this holiday season, and one that will keep on giving,\u201d Treasurer Garrity said. \u201cAnyone who opens a new PA 529 account, or is already saving with PA 529, can ask friends and family to help, too. With Ugift, our free online gifting platform, it\u2019s easy for anyone to support your child\u2019s future dreams this holiday \u2013 or anytime!\u201d<\/p>\n

Last year, PA 529 saw a 14 percent increase in gifting to PA 529 accounts. According to the College Savings Foundation, nearly $650 million in gift contributions were made to education savings plans in 2023, and so far this year, participating plans have seen more than $550 million in gift deposits.<\/p>\n

\u201cA lot of people like to contribute to PA 529 accounts set up for their grandchildren \u2013 or their nieces and nephews,\u201d Treasurer Garrity said. \u201cIt\u2019s a truly meaningful gift, and it\u2019s so simple to do.\u201d<\/p>\n

To share Ugift with your family and friends, log in to your PA 529 account online to create your unique code, or visit\u00a0pa529.com\/gift<\/a>.<\/p>\n

PA 529 College and Career Savings Program\u00a0accounts are designed to help Pennsylvania families steadily and strategically save in a tax-advantaged way for a wide variety of qualifying technical, collegiate, apprenticeship and K-12 educational expenses. Money saved in PA 529 accounts does not affect eligibility for Pennsylvania state financial aid.<\/p>\n

There are two PA 529 plans to choose from, the\u00a0Morningstar Gold-Rated<\/a>\u00a0PA 529 Investment Plan (IP)<\/a>\u00a0and the\u00a0PA 529 Guaranteed Savings Plan (GSP)<\/a>. The PA 529 IP offers a variety of investment options with returns based on financial market performance. The PA 529 GSP lets families pay for tomorrow\u2019s tuition at today\u2019s prices.<\/p>\n

Families who choose to save with the PA 529 GSP and make a contribution received by December 31, 2024, may be eligible for up to $100 in matching contributions. Ugift contributions, which are tax-deductible for the giver, can count toward this match opportunity. Learn more about this offer at\u00a0pa529.com<\/a>.<\/p>\n

More than 306,000 PA 529 accounts currently have more than $8.2 billion saved.<\/p>\n

No matter what plan a family chooses, the\u00a0tax benefits<\/a>\u00a0are the same:<\/p>\n