—Rep. Todd Stephens (R-Montgomery) will host a special informational meeting on the state’s two college savings plans to help parents learn how to prepare for their child’s higher education costs.
“A four-year, in-state college education for a child born today will cost more than $220,000 by the time they graduate,” Stephens said. “The information at this event will help prepare families to meet those costs.”
On Thursday, March 13, from 7-8:30 p.m., at the Horsham Township Community Center, 1025 Horsham Road in Horsham, Stephens will host a “PA 529 College Savings Night.”
During the event, the Pennsylvania Department of Treasury will provide information about the state’s two PA 529 programs, the tax benefits of using these programs to save for their child’s higher education, and how their savings affects their child’s financial aid.
“The key to saving for college is to start as soon as possible,” Stephens said. “Nothing helps your savings grow like time, and the tax-advantaged PA 529 plans can help the money you invest today pay for your child’s education tomorrow.”
The name “529” refers to Section 529 of the IRS tax code, which gives these plans special tax breaks to encourage saving. The money can be used to pay for traditional colleges or universities, many technical and career schools, and/or qualified expenses. There are no income limits, and anyone can contribute to a 529 plan. With these plans, grandparents, aunts, uncles and family friends can all help pay for a student’s college education.
A representative from PHEAA will also be on hand to discuss different ways to finance a college education.
“I urge all parents to attend this event,” Stephens said. “As a parent myself, I know how daunting the task of saving for college can be. The information being presented will help parents prepare now for their child’s future.”
For more information, please Rep. Stephens’ office at 215-368-5165.
Representative Todd Stephens
Pennsylvania House of Representatives
Media Contact: David Foster