The Pennsylvania Treasury Department has announced that families saving with the PA 529 Guaranteed Savings Plan may be eligible to receive up to $100 in matching contributions on their deposits made by December 31.
Here’s how it works:
- Current or new PA 529 GSP account holders can receive up to $100 in matching funds when they make contributions before the end of the year. The match will be funded by surplus earnings from the GSP fund.
- If your child was born on or after January 1, 2019, you can also claim a $100 Keystone Scholars deposit for your child’s education savings. Combining this with the $100 match could effectively triple a $100 contribution.
The PA 529 GSP is designed to help families save for future educational expenses. Accounts can be used to cover a variety of qualifying expenses, from community colleges to private universities. Contributions to a PA 529 may also offer state and federal tax benefits, and the assets do not affect eligibility for Pennsylvania state financial aid.
In addition, asset-based fees for PA 529 GSP accounts have been waived for the third consecutive year (from July 1, 2024, to June 30, 2025), saving families more than $16.5 million across the program.
Keystone Scholars uses no taxpayer dollars.
For more information about the PA 529 GSP and how to take advantage of these opportunities, visit pa529.com or call 800-440-4000.
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