Surrounded by students, parents and teachers, State Treasurer Phil Angelides emphasized the importance of the state’s college savings program during a recent visit to Mar Vista Middle School.
Angelides held a news conference at the school to promote the Golden State ScholarShare College Savings Trust (ScholarShare) as part of a statewide “College Savings Awareness Campaign.” Angelides told parents about the importance of saving now for their children’s college education by opening a ScholarShare savings account that is both federal and California income tax-free.
“With tuition skyrocketing at campuses across the nation, we are here to remind all Californians that it is never too early to start saving for college expenses,” Angelides said. “The ScholarShare program provides Californians a flexible and easy way to save for higher education with long-term growth and tax benefits.”
The Golden State ScholarShare Trust provides a convenient, tax-advantaged savings program to help Californians meet the increasing costs of higher education. The trust is chaired by the state treasurer.
Sweetwater District schools are qualifying more kids for college than ever before. Nearly 800 of this year’s graduating seniors were admitted to San Diego State University alonea 76% increase in five years.
“We set high expectations and also give students the tools and knowledge necessary to reach their dreams of attending a four-year university,” said Sweetwater Board President Pearl Quiñones. “The Scholar-Share program helps families plan ahead for college expenses, and we’re happy to help get that message across.”
ScholarShare accounts are available to all Californians and can be opened for as little as $25 ($15 if your employer provides payroll deduction). Funds in ScholarShare accounts can be used at accredited colleges throughout the United States and earnings are exempt from federal and California income taxes when account funds are used to pay for room, board, tuition, supplies and other qualified expenses. Those who open a ScholarShare account online through www.scholar-share.com with a minimum of $100 before November 14 will receive a $35 amazon.com gift certificate.
“College expenses are on the rise, but there are a variety of steps families can take now to make the dream of college a reality,” said Sweetwater Superintendent Dr. Ed Brand. “We’re doing our part to make sure every parent has the information they need to ensure that their child attends college.”
Angelides introduced the ScholarShare program in California in 1999. Since then, the program has grown to become one of the strongest college savings programs in the country, with accounts for more than 125,000 children and more than $1 billion in assets.
ScholarShare offers families five investment choices: A guaranteed return option, two age-based allocation options, a 100 percent equity option, and a Social Choice Equity option. For more information on ScholarShare, call 1-877-728-4338 or visit www.scholarshare.com.
Angelides was joined at the press conference by renowned former Richmond High School basketball coach Ken Carterwho will be portrayed by Samuel L. Jackson in the upcoming movie, Coach Carter.