PA529 | College and Career Savings Program

Question	Guaranteed Savings Plan	Investment Plan
How do I start?	GSP. Start with as little as $10. Enroll now	IP. Start with as little as $10. Enroll now
What does it cover?	Both plans can be used for post-secondary tuition, room and board costs, books and more, as well as tuition at elementary or secondary public, private, or religious schools. You may also use both plans to pay for certain expenses for a registered apprenticeship program and principle and interest on a qualified education loan.
Where can I use it?	Both plans work at most post-secondary schools, including colleges, universities, technical and professional schools, as well as elementary or secondary public, private, or religious schools both in and out of PA as well as for registered and certified apprenticeship programs.
What happens if the child doesn't attend college?	Both plans allow you to change the beneficiary of the account to certain members of the beneficiary's family. You may also use your PA 529 account for repayment of principle and interest on a qualified education loan for a PA 529 beneficiary or sibling not to exceed $10,000. The Plan Disclosures describe other ways to make withdrawals.
Can I get my money back?	YES. In the GSP you get back at least what you put in, minus any fees. You also keep the growth on your contributions, if any. Depending on the reason for withdrawal, growth may be calculated differently. There may be tax consequences if you don’t use the money for educational expenses.	YES. However, the value of your investment depends on its performance, and could be more or less than you initially invested. There may be tax consequences if you don't use the money for educational expenses.
Can I pick my investments?	NO. You pick the type of school or tuition level to save towards. PA Treasury manages the investments of the GSP Fund.	YES. Choose from a number of investments options, all using Vanguard investment vehicles.
Will it keep pace with rising tuition costs?	YES. Your savings grow based on tuition inflation, when used for qualified post-secondary education expenses.	MAYBE. Investments can gain or lose, depending on market conditions.

PA Saves

PA Savings Pledge

A savings account in your child’s name can build hope and make future dreams a reality. Research shows that a child with education savings is three times more likely to enroll in a two- or four-year college and four times more likely to graduate.¹

Most people want to save for their children’s future, but actually following through and doing it can be difficult. That’s why Pennsylvania Treasury has partnered with Fund My Future to create the PA Savings Pledge and offer you several incentives to save. If you are a Pennsylvania resident, simply tell us who you are saving for and how much you will save each month, then follow through on your pledge to save, and you will be eligible to win monthly prizes. More than $5,000 in prizes is up for grabs every month. Additionally, if your child was born after 12/31/2018, you may be eligible for the Keystone Scholars $100 starter deposit.

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PA Savings Pledge Today!

Fund My Future (FMF), a program administered by Propel Schools Foundation, offers reminders as well as financial and other incentives designed to encourage families to open a savings account in their child’s name and save for their future education. Employees of the Pennsylvania Treasury Department and their immediate families (parents, siblings, children, and spouse) and household members of each, whether related or not, are not eligible to participate.

Participation in FMF is optional and separate from the Pennsylvania 529 College and Career Savings Program (PA 529) and Keystone Scholars and is not affiliated with the Commonwealth of Pennsylvania or the Pennsylvania Treasury Department. By participating in FMF, you are agreeing to allow the Pennsylvania Treasury Department to share with FMF certain information related to your PA 529 account for verification purposes, including but not limited to name, address, email address, telephone number, child’s birthdate, and Keystone Scholars registration status. If you agree to receive emails and text messages when registering for FMF, message and data rates may apply.

By participating in FMF, you agree to the Terms & Conditions of Fund My Future and certify that you are over the age of 18 and are the parent or legal guardian of the participating child.

Please visit fundmyfuturepa.org and read the PA 529 GSP/IP Disclosure Statements at pa529.com for more information.

¹ Elliott, W., Song, H-a, & Nam, I. (2013). Small-dollar children's saving accounts and children's college outcomes by income level. Children and Youth Services Review, 35 (2013), p. 560-571.

Guaranteed Savings Plan

Investment Plan

PA Saves

PA Savings Pledge

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