The Path2College 529 Plan is offered by Georgia, which recently notified Tennessee Treasurer David H. Lillard Jr. it would discontinue the partnership effective June 30.
“I want to thank Georgia officials for working with us over the last couple of years,” Treasurer Lillard said. “While our partnership with Georgia is ending, I remain committed to the goal of encouraging more Tennesseans to save money for college. Toward that end, I have instructed my staff to begin work on the development of a new college savings plan that would be specifically geared toward Tennessee residents.”
Details about the new plan will be released later. Tennessee had planned to offer financial incentives to Tennessee enrollees in Path2College, beginning Jan. 1. However, in light of Georgia’s decision, Tennessee has decided to postpone implementation of the incentive program and offer it in conjunction with the new college savings plan.