New brand campaign arrives as Californians continue to prioritize college savings despite COVID-19 challenges
SACRAMENTO, Calif., Sept. 16, 2020 (GLOBE NEWSWIRE) -- ScholarShare 529, California’s official college savings plan, introduced today its new brand campaign, “The California Way to Save for College,” to celebrate 2020 National College Savings Month this September. The brand campaign highlights the California way of life and how it shapes everything Californians do – including saving for higher education. ScholarShare 529’s new campaign continues to showcase the diversity of families across the state, and underscores ScholarShare 529’s key benefits for college savers, including tax-free growth, low fees and a Gold rating from Morningstar.
“The new branding campaign will undoubtedly set California’s highly-rated college savings plan apart from the others and give families the assurance that their money is wisely invested with the state,” said State Treasurer Fiona Ma, chair of the ScholarShare Investment Board. “Californians continue to show their hope for the future by prioritizing their college savings amid today’s economic challenges. We encourage all Californians to prepare for a better future during this year’s College Savings Month by considering ScholarShare 529 for their family’s college savings needs.”
ScholarShare 529’s new brand campaign reveal comes at a time when California families are continuing to save – in record numbers – despite today’s challenges related to COVID-19. ScholarShare 529 realized a record number of new account openings and contributions during the first half of 2020, with the trend continuing into July 2020. The record savings in California comes at a time when families nationwide appear to be contributing less to 529 plans, according to ISS Market Intelligence, which recently reported that gross sales in 529 plans decreased 5.7 percent in the second quarter of 2020 compared to the same timeframe in 2019.
In July, ScholarShare 529 revealed new research that supports these savings trends: college savings remains a top priority for Californians, with more than three-quarters (79 percent) of California families surveyed saying that helping their children afford college is one of the most important things they can do as a parent, and 82 percent saying it is their job as a parent to help their kids pay for college. ScholarShare 529’s 2020 529 Market Study asked 1,000 California families with children under 18 who plan to save for college about their views.
Visit www.ScholarShare529.com to learn more.
About ScholarShare 529
ScholarShare 529, a Gold-rated college savings plan by Morningstar, serves as California’s official college savings plan. Administered by the ScholarShare Investment Board, ScholarShare 529 provides families with a valuable tool that offers a diverse set of investment options, tax-deferred growth, and withdrawals free from state and federal taxes when used for qualified higher education expenses, such as tuition and fees, books, certain room and board costs, computer equipment, and other required supplies. ScholarShare 529 manages over $10.6 billion in plan assets across more than 344,000 accounts as of 8/31/20.
To open a ScholarShare 529 account or get more information about the plan, visit www.ScholarShare529.com. For information about the ScholarShare Investment Board, visit www.treasurer.ca.gov/scholarshare, like ScholarShare 529 on Facebook at www.facebook.com/scholarshare529, and follow them on Twitter at @ScholarShare529.
In an annual review (10/22/2019) of the largest 529 college savings plans (62 total), Morningstar identified 30 plans that rose above their typical peers, awarding those plans Gold, Silver, and Bronze Morningstar Analyst Ratings for 2019. These forward-looking, qualitative ratings signal Morningstar's conviction in the plans' abilities to outperform their relevant benchmark and peer groups on a risk-adjusted basis over the long term. Morningstar evaluates college savings plans based on five key pillars — Process, Performance, People, Parent, and Price. For more information about Morningstar's overview of ScholarShare, go to www.morningstar.com. Past performance does not predict future results. Source: Morningstar.com
Media Contact
Ryan Hoffman
rhoffman@wearecsg.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e314a03-2b5a-4adf-b565-55ca2c58821a