SOURCE: ScholarShare

ScholarShare

November 24, 2014 11:00 ET

Celebrate Giving Thanks With a ScholarShare 529 College Savings Plan

This Thanksgiving, Earn the Gratitude of Your Child by Saving for Future College Tuition Costs

SACRAMENTO, CA--(Marketwired - Nov 24, 2014) - It's almost Thanksgiving, a holiday that once celebrated the harvest season, and which marks the perfect opportunity to spread thankfulness across your entire family. Why not fold the holiday spirit of sharing and giving thanks into your overall financial strategy? ScholarShare, California's 529 college savings plan, reminds parents that the time to start saving toward your child's college education is now. When your family is gathered around the dinner table sharing what everyone is thankful for, be proud to say that you are thankful that your child or loved one's college future is supported with savings from a ScholarShare account.

With the holiday season approaching fast, peace of mind is important. One less thing parents and guardians can stress over is how they'll pay for those college tuition bills. Many families bear the burden of college tuition costs without a comprehensive savings plan. So the more families can begin to save in their college fund, the less their children will have to borrow, helping them begin their working life with a better financial future.

ScholarShare wants every family to be able to pay for higher education. So the first step you can take to help your child is to open a ScholarShare account. Regular monthly contributions are as easy as preparing cranberry sauce from a can. It takes only $25 to open a new college savings account, and through ScholarShare's "Give a Gift" option, anyone can open a 529 account or make a gift contribution to an existing ScholarShare account.

ScholarShare offers a wide variety of low-cost investment options. It also provides valuable tax advantages. Any US citizen, or resident alien with a valid Social Security Number or Taxpayer Identification Number, can open a new account. Funds can be used at any eligible educational institution in the nation, and some abroad, for a variety of qualified higher education expenses, including tuition, mandatory fees, books, supplies, or even certain room and board costs.

About the ScholarShare 529 College Savings Plan:
Not only can a ScholarShare account be opened with as little as $25, ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum account balance. Established in 1999, ScholarShare currently holds more than $6.1 billion in assets in more than 257,000 accounts as of 11/14/14. To sign up for an account or for more information about the plan, visit www.scholarshare.com. For information about the ScholarShare Investment Board (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 the IRS code under which they were created, 529 plans offer valuable tax advantages. Contributions are made with money that has already been taxed. Once funds are placed in the account, investment earnings, if any, are not federally or state taxed, if withdrawn to pay for qualified higher education costs.

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.