September is College Savings Month and State Treasurer David H. Lillard, Jr. wants you to know the Three Stars for College Savings: start early, make saving a habit, and open a TNStars account. The TNStars College Savings 529 Program will help Tennessee children get an early start to their college savings account this month by giving away $1,000 scholarships to three children age 10 or under.
Tennessee residents age 21 and older can enter the scholarship giveaway online at tnstars.com/Scholarship on behalf of a child 10 or under now through September 30, 2016.
Entrants do not have to open an account, but winners will need to establish a TNStars account for their designated beneficiary in order to claim the $1,000 scholarship prize.
This College Savings Month, TNStars is focusing on the importance of planning early for future college expenses. Starting early gives families a longer horizon for their savings to grow. Even small, consistent contributions to a 529 account can make a big impact.
"It's important to start saving early, so that compounding interest works for you rather than against you with student loans," said Treasurer Lillard.
Nationally ranked in the top five for investment performance by Saving for College, LLC, TNStars was created to help Tennesseans save for the growing cost of post-secondary education. Higher education is critical to prepare the next generation of Tennesseans for the 21st century workforce. TNStars offers families high quality investments at a low cost, so they can save more money for college.