Georgia 529 Plan: What College Savers Should Know

Updated on July 3, 2023

Edited by

• Fact-checked by Marley Hall

The Georgia 529 plan offers tax benefits to residents who save for a college education and for K-12 expenses. Read about the plan and its tax benefits.

An aerial view of student dormitories at Georgia Tech University in Atlanta, Georgia.

Credit: Image Credit: Kevin Fleming / Contributor / Corbis Historical / Getty Images

In June 2022, Georgia held about $4.3 billion in 529 plans.^[1] 529 plans are state-sponsored savings accounts that help people save money for college for themselves or for beneficiaries like children or grandchildren.

For contributing to a 529 plan, Georgia residents get certain tax benefits. Keep reading to learn about the Georgia 529 plan and the state’s tax rules for college savings accounts.

Georgia’s 529 Plan

Georgia offers one 529 plan:

Path2College529 Plan

Requires State Residency? No
K-12 Expenses Eligible? Yes
Fees: 0-0.12%
Performance Notes: The 2022-2023 Enrolment Portfolio has gained 4.81% in average annual returns since its creation.

Behind the Numbers

As with any investment portfolio, 529 plan performance changes over time with the market. We last updated our performance notes in January 2023.

In addition, the Georgia 529 plan offers many portfolios. Check out the options yourself to see which is right for you.

Georgia 529 Plan Tax Deduction

State residents can deduct annual contributions to the Georgia 529 plan on their taxes. Single residents can deduct up to $4,000 a year. And married residents who file jointly can deduct up to $8,000 a year.

In Georgia, you can contribute up to $235,000 in total to college savings plans.^[2]