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UA College Savings Plan encourages Alaska families to start saving for higher education with a 529 plan on “529 College Savings Day”

Fairbanks, AK.– On May 29, the University of Alaska College Savings Plan
joins the College Savings Plans Network (CSPN<http://www.collegesavings.org/>)
and state savings plans around the nation in celebrating “529 College
Savings Day” in an effort to increase awareness among Alaska families about
the importance of saving for their children’s higher education expenses.
“Higher education is one of the best investments a person can make in a
lifetime,” said Lael Oldmixon, director of the UA College Savings Plan. “I
encourage Alaska families to take some time on 529 College Savings Day to
discuss their college savings goals as a family and learn how a college
savings plan can help make those goals a reality.” She added that the Plan
is sharing some fun activities and information through its social media
this month to celebrate.
The UA College Savings Plan is a top ranked 529 plan, a state-sponsored
program designed to help families save while offering potential tax
benefits. Savings have the potential to grow faster in a 529 plan because
potential earnings are tax-deferred, and are tax-free if the account is
used for qualified higher education expenses at an eligible school. The
Plan offers a variety of investment options managed by T. Rowe Price, a
recognized leader in no load mutual funds. The most widely recognized
benefit for Alaskans is the ACT portfolio, which offers the UA
Tuition-Value Guarantee and is a balanced, low-cost option. This portfolio
can also be a good choice if the child is likely to attend the University
of Alaska; however, its monetary value can used at virtually any college or
vocational school in the country.
Alaskans can invest in the Plan directly or through the permanent fund
dividend (PFD). Also, in 2013, everyone who elects to automatically
contribute half of their PFD to the Plan is entered into a drawing for a
chance to win a $25,000 scholarship account or one of four, $2,500
scholarship accounts. Alaskans who have not yet designated half of their
PFD can still do so by filing the “UA College Savings Plan” form through
the state’s Permanent Fund Dividend Division’s website
http://www.pfd.state.ak.us/Forms/index.
To learn more about the UA College Savings Plan, visit
http://www.uacollegesavings.com. Resources and tools that families can use
to compare 529 plans and make informed decisions about saving for college
are also available at CSPN’s website, www.CollegeSavings.org.

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