Perdue signs grandchildren up for college savings plan

<p>Gov. Sonny Perdue enrolled his three grandchildren Monday in the states special savings program for college, calling it a powerful tool for parents and grandparents to invest in the future.</p><p>I am acting today as a grandparent, Perdue said in a news conference designed to encourage more families to participate in the program, which currently has some 32,000 savers and assets of over $100 million.</p><p>He was joined by four-year-old twin granddaughters Kate and Sunni, and six-month-old grandson Jack.</p><p>The accounts were started last year in Georgia to offer tax-free savings for college. Savers can invest up to $2,000 a year per beneficiary. They dont pay tax on the interest, and they dont pay tax when they take the money out as long as it goes for college expenses.</p><p>Perdue said the savings accounts will play an increasingly important role for families in the future if the state must limit the amount it pays for HOPE scholarships. Current proposals call for the state to stop paying for books and certain fees.</p><p>___</p><p>On the Net:</p><p>HASH(0x286768c)</p>