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Georgia's 529 plan is affordable way to save for college

We all want our children and grandchildren to dream big as they look toward their future. We tell them they can be whatever they want to be when they grow up. While I strongly believe that most children possess the strength, determination and perseverance to do just that, I also believe that, as parents and grandparents, it is our job to create a strong foundation to help them achieve those goals -- both educationally and financially.

Despite what can seem like a daunting challenge, saving for your child's education is possible, and taking responsibility for their financial security is the way to make their dreams affordable. That's why I want to encourage Georgia families at this time of year to look at their financial situation and create a plan that includes saving to secure your children's future.

Though you have many choices when it comes to preparing financially for college, I am proud that Georgia now has an option that wasn't available when I was planning for my children's college -- the Path2College 529 Plan.

Georgia's 529 plan is designed to be easily understood, affordable and accessible to everyone, and it doesn't take an in-depth knowledge of financial planning to start and add to a college fund for any child in Georgia. And as tax day quickly approaches and you are looking for additional deductions, Georgia offers its taxpayers a deduction of up to $2,000 per year, per beneficiary, regardless of your annual income, for contributions to a Path2College 529 Plan account. Contributions made before the 2011 tax deadline (April 18) may be deducted from your 2010 Georgia income tax return, although a transfer of funds from another state's 529 plan is not eligible for the deduction.

Visit or call (877) 424-4377 today and start setting aside the dollars for college.

Web posted on Thursday, February 24, 2011

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