Atlanta
(2008-09-11)
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The so-called 'Path-2-College 5-29' plan is Georgia's tax-free college savings plan. It is much bigger than Tennessee's. By joining with Georgia, Tennessee residents will enjoy better financial terms.
Currently, Georgia has 96,000 residents enrolled in its program with $ 650-million in assets. That's compared to Tennessee, which only has $40-million.
"This is really a new model," says Chuck Penuel, the director of Georgia's Path-2-College 529 plan. He says Tennessee is the first state to partner with Georgia, but because of cost savings, there could soon be others.
"We have had discussions with other states because the more states who might chose to join in, the greater the economies of scales we can get and better pricing we can offer to participants," Penuel said.
Penuel declined to say which states might come on board, only that most are in the Southeast.
Jim Burress, WABE News
© Copyright 2009, WABE
