Business
T. ROWE PRICE COLLEGE SAVINGS PLAN BECOMES "T. ROWE PRICE 529" TO REFLECT EXPANDED FLEXIBILITY FOR EDUCATION EXPENSES
This name change coincides with the Plan's 25th anniversary, which T. Rowe Price and the Education Trust of Alaska are commemorating with a $250 matching
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"This name change coincides with the Plan's 25th anniversary, which T. Rowe Price and the Education Trust of Alaska are commemorating with a $250 matching incentive for new saversBALTIMORE, April 7, 2026 /PRNewswire/ -- T. Rowe Price, a global asset management firm and a leader in retirement, today announced the renaming of its longstanding \"T. Rowe Price College Savings Plan\" to \"T. Rowe Price 529.\" The name change to the firm's Morningstar Gold-rated national plani was made to more accurately reflect the growing range of educational expenses these tax-advantaged accounts can support. While 529 plans have typically been associated with traditional four-year college tuition, federal legislation continues to expand how accounts can be used, to include: apprenticeship programs, student loan repayments up to a certain amount, and other qualified expenses.ii\n \n \n \n \n \n \n \n\"We've seen firsthand how starting early—even starting with modest contributions—can make a meaningful difference for families preparing for future education expenses,\" said Roger Young, CFP®, thought leadership director at T. Rowe Price. \"With the expanded flexibility now granted to 529s, families may benefit from valuable tax advantages that can be applied to a broader range of educational expenses than ever before.\"Celebrating 25 Years of Education Savings With $250 Matching IncentiveThe renaming of the plan coincides with the 25th anniversary of T. Rowe Price and the Education Trust of Alaska offering its 529 savings program. To mark the milestone, the Education Trust of Alaska is funding a limited-time incentive program designed to encourage new account openings and early savings. New accounts opened with a contribution of at least $250 in 2026 will be eligible to receive a matched $250 payment to be deposited in February of next year.iii\"Over the last 25 years, we've had the privilege of supporting families as they plan and save for one of life's most important milestones—education,\" said Mark Scarborough, head of T. Rowe Price's 529 program. \"Over that time, we've seen the powerful role 529 plans can play in helping families prepare for the future, and that perspective continues to guide our work today. We remain committed to encouraging families to take the first step, start early, and build a path forward—so that they can plan for the fut...