Tenn. announces new college savings plan - WKRN News 2

Tenn. announces new college savings plan


NASHVILLE, Ten. (AP) - Tennessee has a new college savings plan officials hope will help students afford a higher education.

Gov. Bill Haslam and several state officials announced the "TNStars College Savings 529 Program" on Tuesday.

Under the program, Tennesseans who open accounts with at least $50 will receive a one-time $50 match from the state. Those who roll over their account balances from other 529 college savings plans, including the state's prepaid plan, will get $100.

The program also has other benefits, such as federal tax-free earnings if the money is used for higher education expenses.

About four years ago, the state partnered with Georgia to start a college savings plan. The new one is specific to Tennessee.

Haslam praised the plan as a "great opportunity for Tennesseans who want to attend college."

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow

441 Murfreesboro Road Nashville, TN 37210

Telephone: 615.369.7222
Fax: 615.369.7329
Email: news@wkrn.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Nashville, LLC. A Media General Company.