During the month of December, TNStars® College Savings 529 Program promoted a scholarship giveaway contest, encouraging Tennessee families to enter their children to win a $5,000 college scholarship. Townes, one of 2,196 entrants across the state, was randomly selected as the winner.
Townes is a fourth-grade student at Christ Presbyterian Academy. He plays football and baseball and enjoys playing with friends and going on camping trips with his family. Townes wants to be a professional football player when he grows up.
"Research shows that students who save money for college are seven times more likely to attend college," Treasurer Lillard said. “We hope this scholarship will help you attend the college of your choice and achieve your hopes and dreams.”
Townes’ $5,000 prize will be deposited into a TNStars scholarship account. These funds, along with any additional amounts contributed to it, can be used to cover his future post-secondary education expenses, ranging from tuition and housing to books, computers and more.
“A college education opens up so many more opportunities, and that is why we are saving for our children’s future education,” said Townes’ father, Nate Jennings. “With three children graduating in the same year, saving now is vital. Student loans, while necessary to most people, are a burden we don’t want our children to be shouldered with, if possible.”
Nate and Allison Jennings accompanied their son, Townes, at a special presentation at the State Capitol in Nashville, where Treasurer Lillard awarded Townes with a $5,000 check. The Jennings family was joined by their state legislator, Rep. Mitchell.
“Townes, I am proud to be here to congratulate you on this exciting start to your future college path,” Rep. Mitchell said. “I have two TNStars accounts for my sons, so I understand the value of saving for the future.”
The TNStars College Savings 529 Program was created to encourage Tennessee families to save and invest for the future cost of higher education in a tax-advantaged way. Families can open an account with as little as $25 to start.
TNStars is designed to give Tennessee families high-quality investment options at a low cost to help them put aside money for higher education expenses. Tennesseans can invest directly with the program and funds can be withdrawn tax-free from a TNStars account as long as it is used for qualified higher education expenses. For more information about the TNStars College Savings 529 program, visit TNStars.com.