Thursday, May 30, 2013

State officials celebrating 25th birthday of college savings plan

State officials are celebrating the 25th anniversary of the Kentucky Education Savings Plan Trust.
The state savings plan has helped thousands of Kentuckians pay for college.

The plan allows parents to put money into a variety of investment plans to save for college. Any earnings in the plan are tax free when withdrawals are used for education expenses.

The plan's administrator, David Lawhorn, says there are nearly 14,000 accounts.

Some Kentucky families have been able to use the savings plan to help their children graduate without any debts. A ceremony marking the quarter-century anniversary of the plan is Wednesday in Frankfort.