Montco officials tout saving money for college

Jessica Parks of The Inquirer reports:

Montgomery County is encouraging its residents to start saving money for college this month, and it’s offering an especially sweet deal for county employees.

Employees who enroll in the state’s 529 savings plan will not have to pay the program enrollment fee, county treasurer Jason Salus said Thursday.

Salus said he’s also planning a Web seminar, open enrollment events, and, starting in January, the option of automatic paycheck deductions for county staff.

The state’s 529 Guaranteed Savings plan usually charges a $25 or $50 enrollment fee for accounts opened more than six months after a child’s birth or adoption. The 529 Investment plan has no enrollment fee. Both plans carry tax benefits.

“Nearly two-thirds of college students graduate with debt,” which is often still being repaid “long after they have completed their education,” the Montgomery County commissioners wrote in a proclamation joining Pennsylvania’s College Savings Month.

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