ATLANTA — The Path2College 529 Plan recently launched a contest that will award more than $40,000 in college savings.
The 10,000 Reasons to Save Sweepstakes will bestow one family who is already saving with Path2College and one non-account holder with $10,529 each in college savings. The two winners’ schools also will each receive $10,529.
Director Mitch Seabaugh said the sweepstakes is the largest contest the program has ever done.
Path2College has set a goal of adding at least 10,000 new accounts during the sweepstakes which ends Aug. 15.
“We hope it will encourage those who haven’t yet started to save for their children to do so,” said Seabaugh.
He said the program is designed to get more families saving for college “but several of our sweepstakes, like this one, also help prepare students academically by contributing to a local school or an area library.”
It allows families to contribute $25 or more at a time to a child’s account which is federal and state tax deferred, he said. Withdrawals for qualified education expenses are also tax free on the state and federal levels.
State School Superintendent Dr. John Barge echoed the importance of college savings.
“Establishing a strong financial foundation for children helps ensure their education can continue after high school graduation,” said Barge. “We want every child in Georgia to have the opportunity to achieve their dreams, and in today’s competitive global job market, education is one of the most important tools we can give them.”
Path2College will also have a summer reading program sweepstakes in partnership with the Georgia Public Library Service, a coloring sweepstakes in September to celebrate College Savings Month and a newborn sweepstakes for babies born in 2013.
Official rules to enter the 10,000 Reasons to Save Sweepstakes are at www.Path2College529.com.