News & Press Releases
Eight Kentucky families awarded $1,000 529 savings plan accounts
FRANKFORT, Ky. – Eight Kentucky families added $1,000 to their education savings with the Kentucky Education Savings Plan Trust (KESPT), thanks to a statewide reading program through their local libraries. KESPT sponsored the Rock, Read and Save for College! reading program giving families who participated a chance to win a $1,000 Kentucky 529 education savings plan account. The winners’ local libraries will also receive $500 to fund future reading programs. KESPT is Kentucky’s official Section 529 Education Savings Plan.
KESPT partnered with the Kentucky Department for Libraries and Archives (KDLA) to offer Rock, Read and Save for College! The annual initiative highlights the importance of reading year-round and saving for education tuition and expenses. This year, more than 6,000 Kentucky children and their families participated at libraries across the state and entered for a chance to win a KESPT account.
“Our goal is to help families understand the advantages of saving for education with Kentucky’s 529 plan. Parents may not be aware that the opportunities now extend beyond college,” said David Lawhorn, KESPT program manager. “An important change that went into effect this year is that parents can withdraw up to $10,000 per year to pay tuition at an elementary or secondary public, private or religious school.”
Parents, grandparents and guardians were invited to participate in Rock, Read and Save for College! on behalf of any Kentucky student age 18 or under. The following eight children, randomly selected by KESPT representatives, will receive a $1,000 KESPT account:
- Brody Ellor of Inez, Martin County Public Library
- Gabriel Brown of Union, Boone County Public Library
- Rowan Minnick of Louisville, Oldham County Public Library
- Elizabeth Fisher of Georgetown, Scott County Public Library
- Connor Pace of Monticello, Wayne County Public Library
- Josiah Houk of Owensboro, Daviess County Public Library
- Gabriael Snyder of Gilbertsville, Marshall County Public Library
- Parker Hutton of Corbin, Corbin Public Library
Rock, Read and Save for College! was offered during the nationwide Collaborative Summer Library Program. Many Kentucky libraries participate each year to encourage children to continue reading through the summer.
“Reading programs keep children engaged during the summer so they start a new school year ready to learn,” says Krista King-Oaks, youth services consultant at the Kentucky Department for Libraries and Archives. “It’s a fun program with many benefits for Kentucky students, and we look forward to it every year.”
About the Kentucky Education Savings Plan Trust
KESPT is the Commonwealth's official 529 education savings plan, which helps parents, grandparents, family and friends save for a loved one’s education with tax advantages. It is administered by the Kentucky Higher Education Assistance Authority (KHEAA) and managed by TIAA-CREF Tuition Financing, Inc., a leader in managing Section 529 college savings plans. Visit kysaves.com for more information about the Plan or call toll free 877-598-7878.
Rock, Read and Save for College! is sponsored by KESPT and KHEAA. No purchase necessary. Void where prohibited. Visit kysaves.com for official rules and prize details.
No public funding is used for KESPT marketing, promotions or contest awards. Funding is provided by TIAA-CREF program manager for KESPT.
To learn more about the Kentucky Education Savings Plan Trust, its investment objectives, tax benefits, risks, and costs please see the Disclosure Booklet at kysaves.com. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.
TIAA-CREF Tuition Financing, Inc., Plan Manager. TIAA-CREF Individual & Institutional Services, LLC, Member, FINRA and SIPC, distributor and underwriter for the Kentucky Education Savings Plan Trust.