SACRAMENTO, CA--(Marketwire - Mar 19, 2013) - ScholarShare, California's 529 college savings program, today announced the ten winners of its "Love Your School" promotion. The parents or guardians of each of the selected winners from the sweepstakes will receive $529 to open a ScholarShare college savings account or invest in an existing account.
The sweepstakes was held on ScholarShare's Facebook page and for each of the selected winners a matching $529 contribution was made to their child's school.
Enrolled students up to the 8th grade were eligible to participate in the promotion. After "Liking" ScholarShare on Facebook, the students' parents or guardians submitted an entry form online describing why they love their child's school. Winners were selected at random and the students ranged in age from 5 to 13. The list of winners is attached.
A 529 college savings account can help parents and other relatives save for future college tuition costs and fees. With tuition and fees continually rising, parents and students are often required to take out expensive loans. California's 529 college savings program can play a major role in a comprehensive savings plan.
About the ScholarShare 529 College Savings Plan:
ScholarShare accounts may be opened with as little as $25 per investment portfolio. ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum contribution limit. Established in 1999, ScholarShare currently holds more than $4.7 billion in assets in more than 242,000 accounts as of 12/31/2012. To sign up for an account or for more information about the plan, visit http://www.scholarshare.com/. For information about the SIB, visit www.treasurer.ca.gov/scholarshare. Like ScholarShare on Facebook at www.facebook.com/scholarshare529 and follow us on Twitter at @ScholarShare529.
Named for the section of the IRS code under which they were created, 529 plans offer valuable tax advantages. Contributions are made with money that has already been taxed. Once funds are placed in the account, investment earnings, if any, are not taxed. As a result, any funds withdrawn from the account to pay for qualified college costs are not subject to federal or state taxes.
Consider the investment objectives, risks, charges and expenses before investing in the ScholarShare 529 College Savings Plan. Please visit www.scholarshare.com for a Program Disclosure Booklet containing this and other information. Read it carefully.
Before investing in a 529 plan, you should consider whether the state you or your Beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.
The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non‐qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax. Non-qualified withdrawals may also be subject to an additional 2.5% California tax on earnings.
Investments in the Program are neither insured nor guaranteed and there is the risk of investment loss.
The ScholarShare 529 College Savings Plan Twitter and Facebook pages are managed by the state of California.
TIAA‐CREF Tuition Financing, Inc., Program Manager.
|Jasper Farrar||6||Kindergarten||Sonoma Mountain Elementary|
|Aiden Andres Aguirre||6||First Grade||Rowland Avenue Elementary|
|Sidney Medina||12||Seventh Grade||El Segundo Middle School|
|Alejandro Gutierrez||7||Second Grade||Grand View Blvd. School|
|Hayden Dagman||8||Second Grade||Waldorf School of San Diego|
|William Hewitt||5||Kindergarten||Westlake Charter Elementary|
|Zane Lancaster||8||Third Grade||Innovations Academy|
|Andrés Terán||7||First Grade||Orange County Educational Arts Academy|
|Nathan Villa||10||Fifth Grade||The Phoenix Ranch School|
|Ryan Frost||13||Seventh Grade||Valley Life Charter|