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Save money for college

Jun 20, 2002

Georgians now have ways of setting aside money for their children's futures.

The Georgia Higher Education Savings Plan. The plan, regulated under Section 529 of the Internal Revenue Code, enables Georgians of all income levels to open a savings account for their children's college funds.

There are five different types of investment options available for each savings account. The options differ on whether the investments are stored and allocated in the form of equities, bonds, or money market funds.

As time passes, earnings from the funds are free from federal and state taxes. No taxes will be owed for withdrawals made for college expenses.

The money from these funds is not limited to colleges or universities in Georgia. The money can be used to send your child to any school in the country. It can be used for undergraduate, graduate, medical, law and other types of education.

For details about the investment options and more information regarding the savings plan, visit the website at www.gacollegesavings.com.