Contact Information 
District Offices
236 Locust Street
Columbia, PA 17512

Phone: (717) 684-5525
Fax: (717) 684-2538

222 S. Market Street, Suite 103
Elizabethtown, PA 17022
Phone: (717) 367-5525
Fax: (717) 367-6425

Capitol Office
43A East Wing
PO Box 202098
Harrisburg, PA 17120-2098
Phone: (717) 783-2076
Fax: (717) 787-9175
Planning for Future Education Needs
by State Rep. Dave Hickernell
98th Legislative District
With the rising cost of a college education, it is never too early to start a savings account for your children. That is one reason why I encourage you to obtain information about nowU, Pennsylvania’s 529 College Savings Program.
More than 25,000 Pennsylvania families have saved money for their children’s education by investing in what was formerly called the Tuition Account Program or TAP 529. In its 15 years of existence, the program has paid out more than $367 million in benefits.
Though the program has a new name, it still offers the same two ways to help individuals save for the ever-growing costs associated with obtaining a college degree: a guaranteed savings plan (GSP) and an investment plan. Though tuition increases typically vary from school to school, average increases have been as high as 7 percent and far outpace national inflation rates.
The GSP is helpful for families who want to keep pace with tuition inflation while the investment plan gives college savers the choice of 13 different investment options, ranging from conservative to aggressive. 
Participants also receive a host of generous tax breaks including a state tax deduction of up to $12,000 for their contributions to qualified tuition account programs. Earnings are tax deferred, meaning they are not subject to yearly taxation for either federal or Pennsylvania income taxes. Contributions to the GSP qualify for up to a $12,000 annual gift tax exemption and all contributions are exempt from Pennsylvania inheritance tax.
Saving even a small amount is always better than borrowing money with the large interest payments that are often attached. The availability of grants and scholarships is never guaranteed to remain the same or increase and makes personal savings increasingly attractive.
More information for both the GSP and the investment plan is available by visiting my Web site at and clicking on “nowU College Savings.”

It is difficult to put a price tag on the benefits of a college education. Unfortunately, it is also tough to gauge what future college tuition rates will be. By getting involved in this program now, finding a way to pay for that college education will be less stressful and have less of a sudden impact on a family’s financial situation.  


Rep. Dave Hickernell
98th District
Pennsylvania House of Representatives

(717) 367-5525
(717) 684-5525
(717) 783-2076
Contact: Scott B. Little
House Republican Public Relations
(717) 260-6137
November 27, 2007
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