FOR IMMEDIATE RELEASETreasurer Cowell Commemorates College Saving Day in Charlotte
CHARLOTTE, N.C. – State Treasurer Janet Cowell is recognizing today, May 29, 2015, as 529 College Savings Day to increase awareness and education around college savings accounts and paying for college.
“The formula for saving for college is simple: consistent, long-term contributions,” explains Cowell. “I spent this morning with 4th graders and they’re already halfway to college age. Those parents and grandparents who have the means should take advantage of the benefits of 529 accounts.”
Cowell helped commemorate 529 College Savings Day and discussed methods of paying for college with the College Foundation of North Carolina (CFNC) at an event at the University of North Carolina at Charlotte’s Center City Campus. Representatives of higher education and local elected officials attended the gathering.
Nationally, student loan debt has outpaced credit card debt. In North Carolina, 61 percent of college students graduate with student loan debt, emphasizing a need for increased awareness and understanding of college planning tools.
Across the country, states are celebrating 529 Day and how these plans can help make the dream of going to college a reality. 529 plans, named after Section 529 of the Internal Revenue Code, are tax-advantaged college savings plans designed to help families plan and save for higher education.
For more information about Treasurer Cowell’s financial education initiatives, please visit www.nctreasurer.com/futures