With California’s public school campuses closed since mid-March, spring semester never looked quite like this, and families have lots of questions about the impact of COVID-19 on higher education. ScholarShare 529 – California’s official college savings plan – introduced a new resource to help: Navigating the New Realities, A Guide for California College Students and Parents, which provides tips and insights focused on three pressing higher education topics particularly relevant to current college students and their parents.
The Student Experience. What happens when the college experience is suddenly transformed into an at-home pursuit? Families can learn new tips for maintaining mental health, staying sharp, and successful distance learning.
College Finances. What impact does COVID-19 have on current and future college costs – and how families save for college? The new guide provides college savings strategies for consideration, plus information about the impact on tuition/housing refunds and student loans.
Enrollment Considerations. What kind of long-term impact can be expected? Enrollment insights focus on study-abroad programs, fall enrollment and visa status for international students.
“I encourage parents and families with questions about college finances to take a look at our new guide,” said California Treasurer Fiona Ma. “It has a lot of valuable information.”
“We don’t have all the answers, but we are here to help California families navigate today’s new higher education realities,” said Julio Martinez, executive director of the ScholarShare Investment Board. “Our guide provides information and insights to help California families better understand these important aspects of higher education amid COVID-19 so that they can stay focused on what matters most.”
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. ScholarShare529 manages $8.9 billion in plan assets across more than 336,000 ScholarShare 529 accounts. To open a ScholarShare 529 account or get more information about the plan, visit www.ScholarShare529.com.