News & Press Releases
Making smart decisions about college savings
ScholarShare 529, California’s Official 529 Plan, is hosting a webinar for California employees on how best to save for college and other higher education expenses. “Where and how you save can make a big difference,” according to Julio Martinez, Executive Director of the ScholarShare Investment Board, “and we want to help State employees make smart decisions.”
Here are some hard-to-ignore facts:
- Savings in ScholarShare 529 potentially grow 100% free of state and federal taxes.1
- ScholarShare 529 fees and expenses are about half the national average so your savings can go even further3
- You can use your savings at schools across the nation and abroad, to pay for tuition, room, board and more.2
Perhaps best of all, we’ve made it especially easy for employees like you to save with ScholarShare 529. Our Workplace Savings Program lets you fund your account with a simple payroll deduction.
Learn more at our free, very watchable webinar:
Making Smart Decisions About College Saving
October 24, 2018, 11:00am to 12:00pm PT
Register For Webinar
To learn more about the California 529 College Savings Plan, its investment objectives, tax benefits, risks, and costs please see the Disclosure Booklet at ScholarShare.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss. Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan. Taxpayers should seek advice, based on their own particular circumstances, from an independent tax advisor. If the funds aren’t used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Non-qualified withdrawals may also be subject to an additional 2.5% California tax on earnings. TIAA-CREF Individual & Institutional Services, LLC, member FINRA/SIPC, distributor and underwriter for California’s 529 Plan.
Or if you’re ready to get started right now, visit the employee section of our website.
Frequently Asked QuestionsWho can open a ScholarShare 529 account?
Most anyone – parents, grandparents, aunts, uncles, friends – you can even save for your own education.
When should I start saving?
The sooner you start saving, the more opportunity your savings have to potentially grow. In fact, 1 in 4 families that save with ScholarShare 529 start when their child is under 1 year old.4 (But don’t worry. It’s never too late to begin.)
How much can I save?
With ScholarShare 529, it’s up to you. Start with as little as $25 or contribute up to $75,000 ($150,000 for a married couple) all at once.5
Won’t saving more just hurt my financial aid package?
We’ll talk about this more in the webinar, but plans like ScholarShare 529 are among the most financial aid friendly ways to save – usually with little to no impact.6
What if my child wins a scholarship, or doesn’t attend college?
You can change beneficiaries whenever you like. You can also withdraw the money for other purposes (earnings subject to taxes and penalty).
Register For Webinar
1When used for approved higher education expenses
2At qualifying institutions
3Strategic Insight 529 Plan Fee Analysis 3Q 2018: ScholarShare 529 fees average 0.29%, all plans nationally average 0.63%, direct sold plans average 0.44%, and broker sold plans average 0.93%
4ScholarShare 529 sales data, 2013-2017 full year
5Considered an accelerated 5-year gift
6The impact will vary depending on who owns the account and by school