Section 529 of the IRS tax code, which encourages saving for
future educational purposes through a tax-advantaged plan.
In Pennsylvania, there are two options available: the PA 529
Guaranteed Savings Plan (GSP) or the PA 529 Investment
Plan (IP). Each plan requires a certain amount of money down
(as little as $15) and both plans can be used at most post-
secondary schools, including colleges, universities, technical and
professional schools, or even elementary or secondary public,
private, or religious schools. Another benefit is that neither of
these plans is limited to in-state tuition.
The biggest difference between the two plans is the way your
money is invested and how it’s managed. The GSP allows you to
choose the type of school or tuition level to save toward, then the
PA Treasury manages your investments from there. The benefit
is that your savings continues to grow with tuition inflation. The
IP gives you more freedom to invest your savings into a variety
of 17 different investment options, but your money is more fluid,
allowing you to lose or gain depending on market conditions.
There are several other options available when starting to save
for a minor, including educational savings account (ES), Uniform
Transfer/Gift to Minors Act, custodial accounts, or simply putting
money under your mattress. No matter what route you choose, it’s
never too early to start saving.
Saint Joseph High School
over 100 years of preparing students for college, life, and heaven
more affordable and closer than you might think
Financial Aid & Busing Available
Transfers are welcome!
Open to students of all faiths, races, and national origins.
Schedule your private campus tour anytime.
Mark your calendar: FALL OPEN HOUSES
for students in all grades with their families
· Sunday, October 27: 12–2 pm
· Wednesday, November 13: 5–7 pm
Admissions Director Mrs. Shane Palumbo ’92
[email protected]
SaintJosephHS.com
32
(724) 226–4932
724.942.0940 TO ADVERTISE
❘
icmags.com
TRADE SCHOOLS
Over the past 30 years, the cost to attend a four-year college
has increased by 213 percent, leaving many college graduates
searching for ways to repay their student loans. Some high school
seniors are looking to avoid the hefty price tag of a four-year
degree and instead opting to attend a trade or technical school.
Trade school enrollment continues to increase since the early
2000s, but a steep decline in vocational education in the 1980s
and ‘90s led to a shortage of blue-collar workers across the
nation. Trying to gain back skilled workers has led to an increase
in wages, enticing students and parents alike to see past the old
stigma of choosing a trade school over college. Here are a few of
the best trades or vocations available.
• Air Traffic Controller – With a few years of intense training
and a certification by the FAA, air traffic controllers are highly
sought after. Individuals must have the ability to concentrate,
organize flight plans, inspect radio equipment, and are required
to be constantly vigilant to successfully execute their job duties.