PA Treasurer Polls Parents On College Savings
“You get huge earnings advantages by using a 529 program as opposed to just putting it into savings’ bonds or a savings account. You can get an absolute guarantee against tuition inflation, which is what the Guaranteed Savings Plan provides. We had a 118 percent tuition inflation over a decade at Penn State, but those who bought those tuition credits a decade in advance through Pennsylvania’s Guaranteed Savings Plan got that decade-old price, so they got a heck of a return on their investment.”
McCord Says the Pennsylvania 529 Guaranteed Savings Plan is tied to the rate of tuition inflation, so if you have an eight-year-old child and you start saving now through the plan, the rate you will pay when the child is 18 is today’s rate, not the rate ten years from now. For more information, go to www.pa529.com on the internet.