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VOL. 36 | NO. 37 | Friday, September 14, 2012

Tennessee to announce new college savings plan

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NASHVILLE (AP) — Tennessee officials are expected to announce a new college savings plan.

Gov. Bill Haslam is scheduled to be joined by state Treasurer David Lillard and the state's legislative speakers in making the announcement on Tuesday.

Tennessee partnered with Georgia about four years ago to start the "Path2College 529 Plan," which allowed families to put away money for their children's higher education expenses.

The new plan will be called the "TNStars College Savings 529 Program."

Rich Rhoda, executive director of the Tennessee Higher Education Commission, didn't give specifics about the new plan, but he told The Associated Press that it's "basically breathing new life" into the current one. He also said it will be separate from Georgia's.