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MCCOC

TNStars College Savings ‘Double Your Money’ Offer Extended

The Tennessee Treasury Department is extending a promotion that allows Tennessee residents who sign up for the state’s TNStars College Savings 529 Program to receive a $50 match for the first $50 they invest in the program. The matching funds promotion will be available through June 30, 2013. 

TNStars is a cost effective, easy way for Tennesseans to start saving for their children’s or grandchildren’s college education. The Tennessee Treasury Department estimates that college tuition and fees are rising by at least 7 percent per year. So saving is not an option - it’s a must. 

TNStars is a college savings plan created by Tennesseans, administered by Tennesseans, for Tennesseans that allows participants to choose from 15 investment options, ranging from conservative to aggressive. The plan offers low investment fees and money earned on those investments may be withdrawn tax-free, provided it is used to pay for qualified  educational expenses for the account’s beneficiary. In fact, the funds can be used at thousands of public or private universities, community colleges, technology centers, vocational schools and any post-secondary institution that is eligible to receive U.S. Department of Education student loan funds. 

An account can be established for as little as $25, but Tennessee residents who invest $50 or more will each receive $50 in matching funds from the state deposited into their accounts. In addition to the $50 match, Tennessee residents who roll over their entire account balances to TNStars from other states’ 529 college savings programs or Tennessee’s prepaid tuition program will each receive $100 in incentive funds deposited into their TNStars accounts. 

More than a thousand Tennesseans have opened accounts - so don’t be left out! The $50 match and the $100 rollover incentive are some of the keys to help your child or grandchild get the education and training needed for the 21st Century Tennessee specialized workforce. 

Anyone interested in learning more about TNStars may visit www.TNStars.com or call toll-free to (855) 386-7827.