ScholarShare 529 Helping California Families Save for College This Holiday Season

Holiday offer provides $50 gift card for anyone opening a new ScholarShare 529 account December 9 through 13

SACRAMENTO, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) -- ScholarShare 529, California’s official college savings plan, has a holiday gift to help families start saving for college this holiday season: a $50 Target Gift Card. It’s available to families who open a new ScholarShare 529 account between December 9-13. To qualify, families must open a new account with $50, and set up recurring contributions of $25 or more for six consecutive months.1

“We encourage families to take advantage of this offer to give the gift of college savings this holiday season,” said California State Treasurer Fiona Ma. “In a year filled with many obstacles, college savings may be one of the most meaningful gifts parents can give their children.”

ScholarShare 529 provides a powerful combination of benefits for college savers. The plan provides 100 percent tax-free growth, which can mean more money for college. In addition, ScholarShare 529’s low-cost investments help savings grow faster, and the smart investment lineup provides options that mature as kids get closer to college. The popular Enrollment Year Investment Portfolios adjust asset allocation as a child’s enrollment year approaches.

In addition to the holiday offer, ScholarShare 529 provides a free, easy and secure way for friends and family to make gift contributions to a ScholarShare 529 college savings account. With ScholarShare 529 Ugift, anyone can contribute electronically or by mail and give a gift that grows with kids and lasts a lifetime.

The 2020 holiday offer wraps up a positive year for ScholarShare 529 and its account owners. Contributions this year to ScholarShare 529 are setting new records, and the plan is having one of its best years when it comes to opening new accounts as California families continue to prioritize college savings.

For more information about the holiday offer and to sign up, visit

About ScholarShare 529
ScholarShare 529 serves as California’s official college savings plan. Administered by the ScholarShare Investment Board, ScholarShare 529 provides families with a valuable tool that offers a diverse set of investment options, tax-deferred growth, and withdrawals free from state and federal taxes when used for qualified higher education expenses, such as tuition and fees, books, certain room and board costs, computer equipment, and other required supplies. ScholarShare 529 manages over $10.4 billion in plan assets across more than 345,000 accounts as of 9/30/20.

To open a ScholarShare 529 account or get more information about the plan, visit For information about the ScholarShare Investment Board, visit, like ScholarShare 529 on Facebook at, subscribe to the YouTube channel at and follow them on Twitter at @ScholarShare529.

1 When you open a new ScholarShare 529 College Savings Plan account with a $50 contribution (and sign up for ongoing automatic contributions of $25 or more per month for six consecutive months) between December 9, 2020, at 12:01 a.m. and December 13, 2020, at 11:59 p.m. (PT), you will be mailed a $50 Target GiftCard on or before June 30, 2021. Visit for official Terms and Conditions. Void where prohibited or restricted by law. Sponsored by ScholarShare 529 College Savings Plan.

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Ryan Hoffman