ScholarShare Announces 40 Winners in Think Big! Save for College! Summer Reading Promotion
Winners and Libraries Each Get $529 Award
(firmenpresse) - SACRAMENTO, CA -- (Marketwire) -- 10/01/12 -- , California's 529 , today announced the 40 winners of its Think Big! Save for College! Summer Reading Program promotion. The parents or guardians of each selected winner will receive $529 to invest in a ScholarShare account.
"It's important to continue the summer reading tradition for our children," said State Treasurer Bill Lockyer, who serves as chairman of the ScholarShare Investment Board. "The more we can get kids to enjoy reading, the more successful they will be in school and life."
ScholarShare partnered with California public libraries to conduct the annual Summer Reading Program promotion. Pre-schoolers through 8th-grade students were eligible to participate. After reading a book, their parents submitted an entry form at their local public library or online. ScholarShare received more than 3,600 entries from across California. Winners were selected at random and ranged in age from three to 14. If the winning entry form was submitted at a local public library, the library also will receive a check for $529.
The list of winners is attached.
ScholarShare accounts may be opened with as little as $25. ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum contribution cap of $350,000. The program as of June 30, 2012 held more than $4.4 billion in assets. More than 310,000 accounts have been opened since ScholarShare's inception in 1999. To sign up for an account, or for more information about the plan, visit . For information about the SIB, visit . Like ScholarShare on Facebook at and follow us on Twitter at .
Named for the section of IRS code under which they were created, 529 plans are highly regarded for their tax-advantaged status. Earnings on investments can grow tax-deferred. Withdrawals, when used for tuition and other qualified higher education expenses, are federal and state income tax-free.
The ScholarShare 529 College Savings Plan Twitter and Facebook pages are managed by the state of California.
TIAA-CREF Tuition Financing, Inc., Program Manager.
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Datum: 01.10.2012 - 18:37 Uhr
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News-ID 188428
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