Governor Brian Kemp (R-GA) today highlighted two major enhancements to Georgia's Path2College 529 Plan designed to help families save more effectively for future education costs. The first enhancement comes from Senate Bill 556 and the second comes from a waiver approved by the Georgia Higher Education Savings Plan (GHESP) Board.
How has the Path2College 529 Plan been improved? SB 556 raises the maximum balance for all 529 accounts from $235,000 to $550,000.
Alongside this, the GHESP Board approved a waiver of the state administrative fee, further reducing costs for account holders and making the plan the lowest-cost college savings plan in the nation.
What key figures are saying:
- Gov. Brian Kemp: “Our state is one of the best in the nation for both quality of higher education and affordability, and raising the 529 Plan limit helps ensure that remains so well into the future. By making it even easier for parents to save for their child's college tuition, we're strengthening the future of our state and its economy.”
- Steve McCoy, Georgia’s State Treasurer: “These important changes will allow Georgia families to save more for education while benefiting from the most affordable 529 plan in the country. By increasing the account balance limit and waiving the state administrative fee, we are reinforcing our commitment to helping families meet their long‑term education goals.”
Further Context: Path2College is Georgia’s official 529 plan, offering families a state income tax deduction, tax‑deferred growth, and tax‑free withdrawals when used for qualified education expenses.
Funds can be used for a wide range of educational pathways, including traditional college programs, technical colleges, some apprenticeship programs, K‑12 tuition, and qualified education loan repayment.
Individuals can open accounts for themselves, their children, or other loved ones, and the plan provides a variety of investment options suited to different savings timelines and risk preferences.
The Path2College 529 Plan is overseen by the GHESP Board, which continues to focus on accessibility, low costs, and strong long‑term value for Georgia residents.
