Celebrate 529 College Savings Day May 29

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Celebrate 529 College Savings Day with ScholarShare’s Special One-Day Match Promotion

Our valued partner, ScholarShare, California’s 529 College Savings Plan, knows saving for college can be overwhelming. Often parents don’t know where to start; they might believe there’s nothing they can do to prepare enough. At ScholarShare, they believe in education, and in California families. That’s why on National 529 College Savings Day on May 29, 2015, they are offering to anyone who opens a new ScholarShare account with at least $50 (and sets up automatic contributions of at least $25 per month), a match of $50. You start it, they match it.  For details on this special one-day promotion including the complete Terms and Conditions, visit www.scholarshare.com/529day. By saving early and often, your little one (soon to be big) could have a nice little nest egg. It’s true, paying for all of college with your 529 may not be possible but you can make it happen to cover books, room and board, or other qualified higher education expenses. A 529 can be part of your larger “paying for college” family strategy. Every little bit helps.

According to a 2013 survey by Hart Research Associates, 92% of parents considered getting a college degree worth it, but only 46% of parents have set up a dedicated savings or investment account for their child’s higher education costs. ScholarShare, recently awarded a Bronze metal rating by Morningstar, a prominent ratings agency, is administered by the state of California and managed by TIAA-CREF Tuition Financing, Inc. Named for the section of the internal revenue code under which they were created, 529 plans offer families a tax-advantaged way to save for college.

Some of the benefits of the ScholarShare plan include:

  • Accounts can be opened with as little as $25.
  • A wide variety of low-cost investment options are offered.
  • There are no annual account maintenance fees.
  • Potential earnings are tax-free if used for qualified higher education expenses such as tuition and fees, books and supplies, and certain room and board costs.
  • Funds may be used at eligible educational institutions nationwide, and some abroad.
  • Anyone can contribute to the account, making it a great gift idea for family and friends.

 To learn more or to open an account, visit www.scholarshare.com or call 1-800-544-5248. Like ScholarShare on Facebook at www.facebook.com/scholarshare529 and follow us on Twitter at @ScholarShare529.

ScholarShare is proud to partner with California GEAR-UP, so we can work together to increase the number of students who are prepared to enter and succeed in college. Preparing for college academically and financially can help keep students on the path toward success.

 Consider the investment objectives, risks, charges and expenses before investing in the ScholarShare 529 College Savings Plan. Please visit www.scholarshare.com for a Program Disclosure Booklet containing this and other information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your Beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.

The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non-qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax. Non-qualified withdrawals may also be subject to an additional 2.5% California tax on earnings.

Investments in the Program are neither insured nor guaranteed and there is the risk of investment loss.

The ScholarShare 529 College Savings Plan Twitter and Facebook pages are managed by the state of California. TIAA-CREF Tuition Financing, Inc., Plan Manager

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Last Minute Holiday Gift Idea: ScholarShare College Savings Plan

About ScholarShare

ScholarShare is California’s official 529 College Savings Plan and California GEAR UP statewide partner. Anyone can open a ScholarShare Account for anyone else, and more than one person can contribute to a single Account. ScholarShare funds may be used at thousands of eligible educational institutions for tuition, fees, books, supplies, and equipment required for enrollment or attendance, as well as certain room and board expenses. Account owners control the selection of ScholarShare investment portfolios, withdrawals, and change in beneficiary. Note: Transfers and rollovers may be subject to differences in features, costs and surrender charges. Indirect transfers may be subject to taxation and penalties. Consult your tax advisor about your own situation.

Benefits

Whether your child or loved one is a newborn or entering high school, ScholarShare, California’s 529 College Savings Plan, can help you achieve your college savings goals. Here’s how ScholarShare can make a child’s future brighter:

  • California state and federal income tax deferral on any earnings
  • Withdrawals for qualified higher education expenses are state and federal income tax free*
  • For use at many schools nationwide and abroad — undergraduate and graduate programs, community colleges and trade schools
  • Low minimum contribution of just $25 and a high maximum account balance limit
  • A low, annual asset-based fee and no annual account maintenance fees
  • Family and friends may contribute

To learn more about the ScholarShare College Savings Plan, visit ScholarShare.com or call 800.544.5248.

Consider the investment objectives, risks, charges and expenses before investing in the ScholarShare College Savings Plan. Visit ScholarShare.com, or call the Plan, for a Disclosure Booklet containing this and other information. Read it carefully.

Before investing in a 529 plan, consider whether the state where you or your Beneficiary resides has a 529 plan that offers favorable state tax benefits that are available if you invest in that state’s 529 plan.

The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice, based on their own particular circumstances, from an independent tax advisor.

Investments in the Plan are neither insured nor guaranteed except for TIAA-CREF Life Insurance Company’s guarantee to the ScholarShare College Savings Plan under the Funding Agreement for the Principal Plus Interest Portfolio, and there is a risk of investment loss. Account values will fluctuate based on a number of factors, including general market conditions.

TIAA-CREF Tuition Financing, Inc., Program Manager.

ScholarShare’s Program Manager: TIAA-CREF Tuition Financing, Inc. (TFI), part of the TIAA-CREF group of companies, is a leader in 529 college savings plan management. TFI provides program management services for ScholarShare. TIAA-CREF is a national financial services group of companies and a leading provider of retirement services in the academic, research, medical and cultural fields.