The ScholarShare 529 College Savings Plan is a state-sponsored, tax-advantaged savings vehicle established by the State of California to help individuals and families save for education. It is designed to meet the requirements of Section 529 of the Internal Revenue Code. The plan is overseen by the ScholarShare Investment Board (SIB), an agency of the State of California chaired by the State Treasurer. The day-to-day operations and investments are managed by TIAA-CREF Tuition Financing, Inc. (TFI). Funds saved in the plan can be used for qualified higher education expenses, including tuition, fees, books, and certain room and board costs, at eligible institutions nationwide and abroad, and can also be used for up to $10,000 per year in K-12 tuition.

Founded in

United States