Treasurer Stacy Garrity Announces $1,000 Bonus for Families’ Education Savings

What this means

A factual summary is pending editorial review. The complete official release is reproduced below with issuer attribution and a direct link to the original publication.

Official release

Source material from Pennsylvania Treasury. The wording below is the issuer’s statement.

Harrisburg, PA - Pennsylvania Treasurer Stacy Garrity is giving families with qualified PA 529 College and Career Saving Program Guaranteed Savings Plan (GSP) accounts a $1,000 bonus contribution, enhancing education savings for about 107,000 Pennsylvania families.

“We are thrilled to provide this incredible boost for families who depend on the PA 529 GSP for future education and training needs. Thanks to families’ dedication to save with PA 529 and strong returns overseen by Treasury’s investment management team, the GSP Fund has grown, and Treasury is excited to share surplus earnings with savers.”

Pennsylvania State Treasurer Stacy Garrity

The bonus is being paid for through surplus dollars in the GSP Fund. As of June 30, 2026, the GSP fund was 156.04% funded, reflecting a surplus of $1.06 billion. $106.9 million in surplus funds will be distributed across 106,914 PA 529 GSP accounts – representing 89% of participants in the plan.

PA 529 GSP savers with at least a $1,000 account balance, or those with at least a $100 balance with contributions made since 2022, as of July 31, 2026, are eligible for this bonus deposit. Account owners will see this deposit reflected in their third quarter statement.

Since taking office, Treasurer Garrity has cut PA 529 fees numerous times, including five consecutive years of waived fees for PA 529 GSP accounts, resulting in nearly $28 million in savings for Pennsylvania families.

The PA 529 GSP has been helping families steadily and strategically save in a tax-advantaged way for a wide variety of qualifying technical, collegiate, apprenticeship, credential and K-12 educational expenses since 1992. Assets in a PA 529 account do not impact a student’s eligibility for Pennsylvania state financial aid.

The PA 529 GSP allows families to save at today’s tuition rates to cover tomorrow’s tuition costs with account growth dependent on tuition inflation. PA 529 GSP provides families the option to save at a variety of tuition levels from community college to Ivy League universities.

PA 529 also offers the PA 529 Investment Plan (IP) which has received three consecutive Gold Ratings from Morningstar. PA 529 IP account owners choose from a wide variety of investment options and earnings are tied to financial market performance. PA 529 IP account owners are not eligible for this $1,000 bonus contribution.

For more information about PA 529, visit pa529.com.

To learn more about Pennsylvania Treasury, visit patreasury.gov and be sure to stay up to date with all Pennsylvania Treasury news on Facebook (PA Treasurer Stacy Garrity) and Instagram (@PATreasury).

Release text attributed to Pennsylvania Treasury. Consult the official publication for any subsequent corrections or updates.