Pennsylvanians can open and contribute to a Pennsylvania 529 College Saving Program in order to help pay college costs in the future.

The PA 529 GSP is designed to help savings grow to meet the future cost of education, said Senator Pat Browne (R-16). When used for qualified higher education expenses, PA 529 GSP contributions grow at the rate of tuition inflation, subject to fees and premiums. For example, if you save enough for a semester at one of Pennsylvania's State System of Higher Education universities today, you will have enough for a semester there in the future.

"Given the cost of education, it is never too early to start putting aside money to pay for it down the road," Browne said.

In addition, earnings in a 529 plan are not subject to yearly taxes as they grow, and when used for qualified higher education expenses, earnings are tax-exempt when withdrawn.

Pennsylvania also offers a second option, the PA 529 Investment Plan (IP), in which returns are based on financial market performance.

To open or contribute to an account, visit www.PA529.com or call 1-800-440-4000.