SACRAMENTO, CA--(Marketwired - Sep 10, 2015) - ScholarShare, California's 529 college savings plan, today announced the 40 winners of its "Read to the Rhythm" summer reading promotion. The parents or guardians of each randomly selected student winner were awarded a $500 prize to use toward a new or existing ScholarShare college savings account.
"The goal of the summer reading promotion is to foster an enthusiasm for reading and encourage lifelong learning," said Treasurer Chiang. "Reading during the summer months can help students retain the material they learned the previous school year and improve their future academic performance."
This is the fourth year ScholarShare has partnered with California public libraries to promote summer reading. To be eligible, students in the 8th grade or below had to read at least one book over the summer, and their parents or guardians had to submit an entry form online or at their local public library. ScholarShare received nearly 7,000 entries from students across California, and the 40 winners were selected at random.
In addition to each winner receiving $500 toward a ScholarShare college savings account, each winner's participating public library or its designee will also receive a prize of $500.
The complete list of winners is attached.
About the ScholarShare 529 College Savings Plan:
ScholarShare accounts may be opened with as little as $25. ScholarShare has no annual account maintenance fee, no income limit and offers a high maximum account balance. Established in 1999, ScholarShare currently holds nearly $6.3 billion in assets in more than 266,000 accounts as of 8/28/15. To sign up for an account or for more information about the plan, visit www.scholarshare.com. For information about the ScholarShare Investment Board (SIB), visit www.treasurer.ca.gov/scholarshare. Like ScholarShare on Facebook at www.facebook.com/scholarshare529 and follow us on Twitter at @ScholarShare529.
Named for the section of the IRS code under which they were created, 529 plans offer valuable tax advantages. Contributions are made with money that has already been taxed. Once funds are placed in the account, investment earnings, if any, are not federally or state taxed, if withdrawn to pay for qualified higher education costs.
Consider the investment objectives, risks, charges and expenses before investing in the ScholarShare 529 College Savings Plan. Please visit www.scholarshare.com for a Program Disclosure Booklet containing this and other information. Read it carefully.
Before investing in a 529 plan, you should consider whether the state you or your Beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.
The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non‐qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax. Non-qualified withdrawals may also be subject to an additional 2.5% California tax on earnings.
Investments in the Program are neither insured nor guaranteed and there is the risk of investment loss.
The ScholarShare 529 College Savings Plan Twitter and Facebook pages are managed by the State of California.
TIAA‐CREF Tuition Financing, Inc., Plan Manager.
ScholarShare Read to the Rhythm Summer Reading Promotion Winners
| Name | CITY | LIBRARY | ||
| Shannon Schlicht | Aliso Viejo | Aliso Viejo Library | ||
| Ma-Barbara Flores | Anaheim | Haskett Branch Library | ||
| Karol Blizzard | Atascadero | Atascadero Public Library | ||
| Lourdes Maravilla | Bell Gardens | Cudahy Library | ||
| Marie Dominguez | Chowchilla | Chowchilla Branch Library | ||
| Minh Nguyen | Costa Mesa | El Toro Library | ||
| Binh Tu | El Monte | El Monte Library | ||
| Guillermo Mendez | Exeter | Exeter Library | ||
| Marlene Escover | Fairfield | Fairfield Cordelia Library | ||
| Alexandra Almonte | Fontana | Glen Avon Library | ||
| Duraivelu Dhanapal | Fremont | Fremont Main Library | ||
| Nicole Nanez | Fresno | Politi Branch Library | ||
| Stephanie Rose | Goleta | Goleta Library | ||
| Alejandra Aranda | Hemet | Hemet Public Library | ||
| Nisha Gandhi | Hercules | Hercules Library | ||
| Melissa Salazar | Lincoln | Lincoln Public Library | ||
| Joy Holder-Tate | Long Beach | Angelo M. Iacoboni Library | ||
| Adenike Omolola | Los Angeles | Hyde Park Miriam Matthews Branch Library | ||
| Jane Shen | Los Angeles | John C. Fremont Branch Library | ||
| Debbie Morales | Los Angeles | Westchester Loyola Village Branch Library | ||
| Bharathi Meka | Mountain House | Cesar Chavez Central Library | ||
| Amalia Hernandez | National City | National City Public Library | ||
| Maria Erazo | Newhall | Old Town Newhall Library | ||
| Vania Shami | Northridge | Porter Ranch Branch Library | ||
| Estela Trejo | Orange | Anaheim Central Library | ||
| Emi Bevacqua | Orinda | Orinda Library | ||
| Kristy Freed | Porterville | Porterville Public Library | ||
| Julieta Guzman | Riverside | Casa Blanca Library | ||
| Steven Ogden | Roseville | Martha Riley Community Library | ||
| Vikas Yadlapalli | San Diego | 4S Ranch Branch Library | ||
| Yvette Blease-Moore | San Diego | Tierrasanta Branch Library | ||
| Maya Galvez | San Francisco | Visitacion Valley Branch Library | ||
| Kathryn Azevedo | San Jose | Los Gatos Public Library | ||
| Karin Lopez | San Pedro | San Pedro Regional Library | ||
| Michelle Williams | Santa Clarita | Valencia Public Library | ||
| Nithya Chandrakesan | Sunnyvale | Sunnyvale Public Library | ||
| Caroline Gunawan-Ho | Temecula | Grace Mellman Community Library | ||
| Adelaida Torres | Ukiah | Mendocino County Library | ||
| Joe Anderson | Upland | Claremont Library | ||
| Angelina Brewer | West Sacramento | Arthur F. Turner Community Library |