September is National College Savings Month

September is National College Savings Month
Posted at 6:19 PM, Sep 28, 2018
and last updated 2018-09-29 06:30:19-04

MIDWAY, Fla. (WTXL) - It's never too late to start saving for your children's college savings fund.  

September is National College Savings month.

The Path2College 529 Plan is a college savings plan set up by the state of Georgia to help families save for college. There are even tax advantages.

You get a state income tax deduction up to $4,000 per beneficiary per year for just putting money into the savings account.

And then when the money is used for college it comes out federal and state tax free. 

"Every dollar saved is one less dollar you have left in student loans. So it's always important to talk about saving and the best time to start saving is now," said Mitch Seabaugh. 

Your student can use the funds for many things, including tuition, books and fees.

And the plans can be used for both undergraduate or graduate studies.