Georgia families will be able to save substantially more for future education expenses under two major changes to the state’s Path2College 529 Plan.

Governor Brian Kemp recently highlighted Senate Bill 556, which raises the maximum balance allowed in a Path2College account from $235,000 to $550,000. Kemp signed the legislation in May.

The Georgia Higher Education Savings Plan Board has also approved a waiver of the plan’s state administrative fee. State officials say the change makes Path2College the lowest-cost college savings plan in the nation.

Kemp said increasing the savings limit will make it easier for parents to prepare for college tuition and other education costs while strengthening Georgia’s future workforce and economy.

Georgia State Treasurer Steve McCoy said the higher limit and fee waiver will allow families to save more while reducing the cost of maintaining an account.

Path2College is Georgia’s official 529 education savings plan. Account holders may qualify for a state income tax deduction, while investments grow tax-deferred. Withdrawals are tax-free when used for eligible education expenses.

Funds can be used for traditional colleges and universities, technical colleges, certain apprenticeship programs, qualified kindergarten-through-12th-grade tuition expenses and eligible student loan repayments.

Accounts may be opened for children, other relatives or the account holder. The plan also offers several investment choices designed for different savings schedules and levels of risk.

The Path2College plan is overseen by the Georgia Higher Education Savings Plan Board, which was recognized by Morningstar in 2025 for its commitment to education savers and leadership.