Raleigh, N.C. - North Carolina’s 529 college savings plan, administered by College Foundation, Inc. (CFI) on behalf of the North Carolina State Education Assistance Authority, is now available nationwide to employers using the payroll services of ADP, Inc. North Carolina’s National College Savings Program is one of four plans that ADP Retirement Services makes available through their 529 Payroll Deduction Program.

“Employers and employees want a convenient, tax-advantaged 529 college savings plan, and offering North Carolina’ s National College Savings Program through ADP is a major step in that direction,” said Shera Hube, CFI’s vice president for marketing and savings.

Providing a college savings plan in conjunction with a company’s payroll makes it easy for employees to make regular, automatic contributions. Residents of any state are eligible to open accounts in North Carolina’s plan.

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The North Carolina 529 plan has tax-free earnings, no enrollment fee, and no sales charges. A range of investment options, from conservative to aggressive, include guaranteed, income, balanced, age-based and equity choices. The program also has low minimum contributions and a high account balance limit of $312,551 (in 2005, adjusted annually).

As an added benefit, if additional funds are needed when it is time to start college, participants or beneficiaries in North Carolina’s savings program have access to North Carolina’s Federal Family Education Loan Program, with outstanding borrower benefits on education loans for students and parents.

More information on North Carolina’s National College Savings Program is available on the comprehensive college and career planning website, College Foundation of North Carolina, www.CFNC.org/savings. Use the easy, online enrollment process and get complete information to help plan, apply and pay for college.

About North Carolina’s National College Savings Program
North Carolina’s National College Savings Program is authorized by the General Assembly of the State of North Carolina, has been established and is maintained by the North Carolina State Education Assistance Authority, and is administered by College Foundation, Inc. About College Foundation, Inc. and its CFNC Partners
College Foundation of North Carolina (CFNC), a free service of the State of North Carolina provided by Pathways, College Foundation, Inc. and the N.C. State Education Assistance Authority, helps students plan, apply and pay for college.

Pathways is a state-based initiative including North Carolina’s Department of Public Instruction, the University of North Carolina System, the North Carolina Community Colleges, and the North Carolina Independent Colleges and Universities, working together to increase access to college for all North Carolinians.

College Foundation, Inc., a nonprofit corporation helping North Carolina students and families since 1955, services a portfolio of more than $2 billion in low-interest federal education loans and administers the state’s college grant programs and tax-free 529 college savings program. For more information on North Carolina’s 529 college savings program, call toll-free 1-800-600-3453 or visit www.CFNC.org/savings .