Nothing has a bigger impact on the professional success and upward economic mobility of young people than a higher education. But, for many families, the dream of sending their children to a community college, trade school, or university has climbed beyond reach as costs and student loan debt skyrocket.
That’s why ScholarShare 529, California’s state-sponsored 529 College Savings Plan, is offering eligible families a matching grant to help kickstart the college planning process. Studies have shown that even children with college savings of less than $500 are three times more likely to enroll in higher education, and four times more likely to graduate, than those without a college savings account.*
Now is the best time to begin saving for your child’s future higher education costs. Let ScholarShare 529 help you get started with a matching grant of up to $225 when you open an account.
* Source: Center for Social Development, "Small-Dollar Children’s Savings Accounts, Income, and College Outcomes, 2013"
Consider the investment objectives, risks, charges and expenses before investing in the ScholarShare College Savings Plan. Please call toll-free 1-800-544-5248 or click here for a Disclosure Booklet containing this and other information. Read it carefully. Investments in the plan are neither insured nor guaranteed and there is the risk of investment loss.
Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits such as financial aid, scholarship funds or protection from creditors that are only available if you invest in that state’s 529 plan.
Consult your legal or tax professional for tax advice. If the funds are not used for qualified 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.
The ScholarShare College Savings Plan is offered by the State of California. TIAA-CREF Tuition Financing, Inc. (TFI), program manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributor and underwriter for ScholarShare College Savings Plan.
The Plan Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.
The Plan Web site contains links to other Web sites. Neither the Plan nor TFI and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.
All social media platforms are managed by the State of California.