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College savings program extended

Published On: Jan 04 2013 06:56:15 AM CST
Updated On: Jan 04 2013 04:37:56 PM CST

The Tennessee Treasury Department is extending a promotion offering a $50 match to Tennessee residents who sign up for the TNStars college savings plan.

TNStars allows participants to choose from 15 investment options, all with low fees.

The money earned may be withdrawn tax-free to pay the educational expenses of the account's beneficiary.

The child does not have to attend college in Tennessee.

The funds can be used at any school that is eligible to receive U.S. Education Department student loan funds.

An account can be established for as little as $25, but those investing $50 or more will receive a $50 match.

In addition, Tennessee residents who roll over their entire account balances from a different state's 529 college savings program will receive $100.