State Treasurer Michael Fitzgerald announces College Savings Iowa is joining other 529 plans across the country to celebrate College Savings Month throughout September.
“If you are looking to start or boost your child’s higher education fund, here’s your sign,” said Fitzgerald. “We’re hosting a giveaway where one family will win a $10,000 College Savings Iowa account contribution. All you have to do is register at Iowa529Contest.com before September 30.”
College Savings Iowa is a tax-advantaged way for families and friends to save for the costs of higher education on behalf of a student.
“You don’t have to be market savvy or make large contributions,” concluded Fitzgerald. “With a minimum contribution of $25 and investments that are professionally managed, this 529 plan is built to be user-friendly.”
Funds in an account can be used at any eligible education institution, including two- and four-year colleges, apprenticeship programs and trade schools. Qualified expenses include tuition, room and board, computers, supplies and more. Plus, among many other tax-advantages, Iowa taxpayers can deduct up to $3,522 in contributions from their state income taxes in 2022.
Celebrate College Savings Month by opening an account for a child in your life and entering the giveaway, which ends Friday, September 30. For more information on the 529 plan, visit CollegeSavingsIowa.com or call (888) 672-9116. Connect with the Plan on Facebook and Twitter to stay up to date on current events and plan updates.