Earning a college degree opens up many opportunities in life and increases the likelihood of a successful future. Over the past few decades, the rising cost of a college education has far outpaced inflation, which makes it less affordable for many qualified students.
In response to this challenge, the California Legislature established the Golden State Scholarshare Program to help California families and others save to meet the increasing costs of higher education. Through this program, a designated beneficiary has a Scholarshare Account set up on their behalf with contributions placed in a trust. There is an assortment of investment options and the funds will grow on a state tax-deferred and federal tax-free basis until the beneficiary is ready for college.
If you’re worried about how to put your kids through college, the ScholarShare College Savings Plan is a practical, affordable solution – even on a modest budget. Overall, this is an easy and tax-favored program to help with the financial burden of college on families.
I hope you will take the time to review the materials on the Golden State Scholarshare website at www.scholarshare529.com or call toll free at 1-800-544-5248 to receive more information about the benefits of this outstanding program.
If I can be of assistance to you on this or any other state matter, please do not hesitate to contact my District Office at (714) 939-8469.