The Pennsylvania 529 Guaranteed Savings Plan (GSP)
The GSP provides the advantages of 529 plans and guarantees that your savings will keep up with the rising cost of college tuition.* The GSP is unique because you save for tomorrow's college expenses at today's lower cost.
- For example, if you save enough to pay for a semester of college today at a Tuition Level you choose, you'll have enough to pay for a semester of college at that Tuition Level tomorrow - no matter when, or how much college tuition rises in the meantime.
- Your savings are tied to the rate of tuition inflation at your chosen Tuition Level - not the performance of the stock or bond market.
- Either the Account Owner or the Beneficiary must be a resident of Pennsylvania.**
You don't have to worry that the Tuition Level you select locks your child into attending a specific school or that you'll make a wrong choice. You can change the Tuition Level at any time, and the change will be made retroactive for each contribution made to the account.
Establish a new GSP account enroll online or download GSP enrollment form. Be sure to read the GSP Disclosure Statement carefully for important information about the plan and its objectives, risks, charges, and expenses.
If you need answers to any of your questions, any forms, or assistance filling out the enrollment Application, call toll free 1-800-440-4000 (Monday through Friday, 8:00 a.m. to 6:00 p.m., Eastern time).
* The guarantee is that, when used for qualified higher education expenses, your contributions will grow at the rate of tuition inflation at a Tuition Level that you choose. If the applicable GSP Credit Rate at the time a contribution is made has a premium, however, your rate of growth will be lower than the actual rate of tuition inflation at your Tuition Level by approximately the rate of the premium. Premiums do not, however, alter the way in which the dollar value of your account is determined. When used for qualified higher education expenses, each GSP Credit will still have the full value of the actual per credit tuition cost. The guarantee is an obligation of the Pennsylvania GSP Fund only. The guarantee is not backed by the full faith and credit of the Commonwealth of Pennsylvania, and is not an obligation of the Commonwealth of Pennsylvania, the Pennsylvania Treasury Department, Upromise Investments, Inc., Upromise Investment Advisors, LLC, or any other party. The GSP is not insured by the Federal Deposit Insurance Corporation or any other government agency.
**Before enrolling, consider whether the Account Owner's or Beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.
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