Pennsylvania Treasurer Stacy Garrity announced that eligible PA 529 College and Career Saving Program Guaranteed Savings Plan accounts will receive a $1,000 bonus contribution.
The bonus will benefit 106,914 PA 529 GSP accounts, representing about 89% of participants in the plan.
The contributions are being funded through surplus dollars in the GSP Fund. As of June 30, 2026, the fund was 156.04% funded, with a surplus of $1.06 billion. Pennsylvania Treasury will distribute $106.9 million from the surplus to eligible accounts.
To qualify, PA 529 GSP savers must have had at least a $1,000 account balance as of July 31, 2026. Accounts with at least a $100 balance also qualify if contributions have been made since 2022.
The $1,000 deposit will appear on account owners’ third-quarter statements.
Since Garrity took office, PA 529 fees have been reduced multiple times, including five consecutive years of waived fees for PA 529 GSP accounts. Treasury said those waived fees have saved Pennsylvania families nearly $28 million.
The PA 529 GSP has been available since 1992 and can be used for qualifying technical, college, apprenticeship, credential and K-12 education expenses. Assets in a PA 529 account do not affect a student’s eligibility for Pennsylvania state financial aid.
The GSP allows families to save at current tuition rates for future tuition costs, with account growth based on tuition inflation. Families can select tuition levels ranging from community colleges to Ivy League universities.
PA 529 also offers the PA 529 Investment Plan, which provides investment options with earnings tied to financial market performance. Investment Plan account owners are not eligible for the $1,000 bonus contribution.
More information about PA 529 is available at pa529.com.
