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8/29/11
For Immediate Release
For More Information Contact: State Treasurer’s Office at (605) 773-3378
South Dakota Placed First in College Savings Program
Is it possible to invest in a student’s college education and get a tax break? Yes, with the South Dakota College Access 529 program, and right now is a prime time for South Dakotans to enroll because South Dakota’s College Access 529 plan recently placed first in the one-year performance category for direct-sold plans on savingforcollege.com.
The news comes at an opportune time as State Treasurer, Rich Sattgast, wants to remind everyone that September is National College Savings Month. “As students head back to school this month it is a great time to consider starting an investment in their future college education,” Sattgast comments. South Dakota’s College Access 529 plan is a college savings program sponsored by the State of South Dakota.
Whether you are a parent, a grandparent, aunt, uncle, godparent or a family friend, the College Access 529 is an opportunity to start a student’s college fund. Investing in a 529 plan may offer college savers special tax benefits.
“I’m excited to promote a way in which our students can get a college education without having to graduate with an overwhelming debt as they begin their lives,” said State Treasurer, Rich Sattgast. As the State Treasurer, Sattgast is a member of the executive board for the College Savings Plan Network, which is the leading voice for 529 College Savings Plans.
Sattgast stresses the importance of people planning for the cost of a child’s college education a little differently. “Unfortunately, South Dakota has among the highest percent of college grads in debt,” Sattgast said, “over 75% of graduates will carry a significant student load debt.”
Sattgast points out that a 529 fund is one of the most compelling ways for a family to save for college. “By utilizing the College Access 529 program, students have the opportunity to realize a brighter financial future once they leave college and it allows students to follow rewarding career paths which may not have as great a financial payout at the beginning.”
The South Dakota College Access 529 fund ranks number one in the nation for performance and Sattgast credits the success of South Dakota’s program to the outstanding work of Allianz Global Investors, who is the manager of the 529 fund for South Dakota. For more information or to begin a plan, people can call 1-866-529-7462 or visit www.collegeaccess529.com.
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