The State of Tennessee is expected to announce a new college savings plan on Tuesday.

It’s called the TNStars College Savings 529 Program, which is a tax-advantaged college savings plan designed to help parents, grandparents and friends support the education needs of loved ones.

It will also make it easier and more cost effective for Tennesseans to have access to higher education.

Treasurer David H. Lillard, Jr. will be joined by Governor Bill Haslam, Lt. Governor Ron Ramsey, and Speaker Beth Harwell at the 10 a.m. event.