Peach Tree Times

Georgia’s “Path2College” 529 plan has been upgraded two tiers from “neutral“ to “silver” by Morningstar Inc., recognizing it as one of the leading college savings plans in the country.

Gov. Brian Kemp tweeted Nov. 13, announcing the plan’s upgrade by the leading investment research firm.

‘’Our Path2College 529 Plan is now the lowest-cost college savings plan in the nation, and I hope more families will utilize it to help their children achieve their dreams,” Kemp wrote in his tweet.

According to a press release, the plan experienced a 36% increase in contributions and a 21% increase in new accounts opened from January through September. This marks a significantly higher growth than most other savings plans as the upgrade shifts it to the lowest 529 plan in the nation.

The Path2College 529 Plan is one of only 11 plans in the nation to receive the silver rating and Georgia is the only state to receive a two-tier upgrade, the release said. 

Participants have more than $4.4 billion saved in the plan as of Sept. 30th this year, according to the release. This comes as $1.4 billion has been withdrawn to pay for education-related expenses since the plan’s inception in 2002.