State Plan

Georgia 529 Plan

Georgia offers one 529 college savings plan, a traditional 529 savings plan called the Path2College 529 Plan. Saving for college has never been easier thanks to the Georgia 529 Plan.

Path2College 529 Plan

Path2College 529 Plan is a traditional 529 plan that allows you to invest money today and reap tax benefits when you withdraw it to pay for qualified education expenses.

Type: Direct – Georgia’s 529 plan can be purchased directly.

Fund Family: TIAA-Cref

Minimums: To get started you can deposit $25 or set up an automatic payroll deduction of $15. The minimum subsequent contribution to Georgia’s 529 plan is $25 unless you choose to automatically deduct from your paycheck. With this option, you can contribute $15.

Maximum Contributions: The plan accepts contributions until all account balances in the Path2College 529 Plan for the same beneficiary reach $235,000.

Tax Benefits: Good news for Georgia residents — by investing in your state’s 529 plan, you can deduct up to $2,000 on your state income taxes. You don’t have to itemize deductions to make this adjustment to income. You also get federal income tax benefits as you do not pay income tax on your earnings. Out-of-state participants still get the federal tax benefits.

Residency: The Path2College Plan is open to all United States residents, not just those in Georgia.

You can learn more about the this 529 plan at the official web site.