Treasurer Stacy Garrity Kicks Off ‘529 Day’ Promotion with Awards Totaling More Than $30,000

Harrisburg, PA - Treasurer Stacy Garrity announced today that this year's 529 Day celebration includes three top awards of $5,529, enough to cover a full year of tuition at a Pennsylvania community college. The event starts tomorrow, May 1, and Treasurer Garrity encouraged families to save for their child's education with the PA 529 College and Career Savings Program.

Families who open and contribute at least $10 to a new PA 529 Guaranteed Savings Plan (GSP) account between May 1 and May 31, 2024, will be eligible to win one of two statewide awards of $5,529, or one of six regional awards of $2,529. Last year, more than 1,000 families started saving during our 529 Day promotion.

New for this year, families who already have a PA 529 GSP account with a balance of $10 or more as of April 30, 2024, are eligible to win one statewide award of $5,529 if they make an additional contribution of at least $10 to their child's account during the promotional period. Full 529 Day promotion details and official rules are available at pa529.com/529day.

"I'm excited to kickoff this year's 529 Day promotion to help families save for their child's future education. Saving early and often will make a big difference down the road when a child chooses their career path. A dollar saved today can grow into many dollars that don't have to be borrowed later. Offering these great awards, including three that would cover a whole year of community college, will be a big boost for families."

Pennsylvania State Treasurer Stacy Garrity

Treasury's 529 Day promotion kicks off a month-long celebration leading up to May 29, or 529 Day, which encourages families to save early for post-high school education with PA 529 accounts.

The PA 529 program has been helping families save and pay for education for more than 30 years. Saving with PA 529 accounts comes with significant state and federal tax advantages. PA 529 accounts can be used for a wide variety of qualifying technical, collegiate, and apprenticeship expenses like tuition, fees, books, equipment, room and board, and more. Saving with PA 529 does not impact a student's eligibility for Pennsylvania state financial aid.

The PA 529 GSP allows families to save at today's tuition rates to meet tomorrow's tuition costs - meaning saving enough to pay for a credit today will pay for that same credit years from now. PA 529 GSP account earnings are based on college tuition inflation rates. Families can choose the tuition level they wish to save at - from community colleges up to Ivy League universities.

Families with children born January 1, 2019, or later, already have a $100 Keystone Scholars account to jumpstart their education savings. This automatic deposit is available to every baby born in Pennsylvania, and those adopted by Pennsylvania families. The program uses no taxpayer dollars. Families are encouraged to register their Keystone Scholars accounts online at pa529.com/keystone and open their own companion PA 529 account to continue saving for their child's future.

Visit pa529.com to learn more about saving with PA 529 and pa529.com/529day for official 529 Day promotion rules.

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