SACRAMENTO, CA--(Marketwire - Sep 11, 2012) - ScholarShare, California's 529 college savings program, is supporting California teachers and families this fall by offering unique school supplies for students, free of charge, including shipping costs. The program that helps residents save for college is providing this service, geared towards children in kindergarten through the third grade, throughout the state during the 2012-13 school year.
The program, launched for the first time this year, will offer elementary institutions with a package of new school supplies. The program is available to all schools in the state of California and principals and school administrators are encouraged to opt-in. Each shipment will include Weekly or "Friday" folders, bookmarks and growth charts for early childhood, as well as educational materials promoting the importance of going to college such as posters, brochures and options for webinars and presentations on college savings.
ScholarShare wants every child to be able to pay for higher education, and the first step in helping a new student reach step closer to their goal is by opening a college fund that can help lower the amount of money they'll have to borrow in the future. The month of September marks College Savings Month where ScholarShare will join more than 40 states across the country in recognizing the importance of saving for college. It takes only $25 to open a new ScholarShare college savings account and each contribution can reduce the amount future students will have to borrow.
Schools with grades K-3rd looking to opt in to this completely free school supplies program are encouraged to place an order at CA529forSchools.com or by calling 866-341-0793. Supplies are limited and will be delivered on a first-come, first-served basis.
About the ScholarShare 529 College Savings Plan:
ScholarShare accounts may be opened with as little as $25 per investment portfolio. ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum contribution limit of $350,000. The program currently holds more than $4.4 billion in assets as of 6/30/2012. More than 310,000 accounts have been opened since ScholarShare's inception in 1999. To sign up for an account or for more information about the plan, visit http://www.scholarshare.com/. For information about the SIB, visit www.treasurer.ca.gov/scholarshare. Like ScholarShare on Facebook at www.facebook.com/scholarshare529 and follow us on Twitter at @ScholarShare529.
Named for the section of IRS code under which they were created, 529 plans are highly regarded for their tax-advantaged status. Any earnings on investments can grow tax-deferred. Withdrawals, when used for tuition and other qualified higher education expenses, are federal and state income tax-free.
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., Program Manager.