State Treasurer Michael Fitzgerald is reminding Iowans about College Savings Iowa's Year-End Giveaway. "This holiday season, unwrap your child's future by entering to win a $5,290 College Savings Iowa contribution," said Fitzgerald. "Visit Iowa529Contest.com by the end of the year to register." Any Iowan over the age of 18 can register for a child in their life.
"Saving for the child in your life is one of the most important things you can do," commented Fitzgerald. "Having a dedicated education savings account lets your children know you believe in their dreams. It's a gift you can't unwrap, but it might just be the most valuable gift of all." To date, College Savings Iowa participants have withdrawn more than $4.5 billion to pay for qualified education expenses.
College Savings Iowa is the state's direct-sold 529 plan and helps families save for the rising costs of higher education on a tax-advantaged basis. Funds in an account can be used for tuition, room and board, books, computers, supplies and other qualified education-related expenses. The student you're saving for can attend any eligible education institution, including two- and four-year colleges, apprenticeship programs and trade schools. Additionally, Iowa taxpayers can deduct up to $3,522 of their contributions from their state income taxes in 2022.
For details about the Plan, visit CollegeSavingsIowa.com to read the Program Description. Follow the Plan on Twitter and Facebook for tips, Plan updates, current events and news.
Categories: Iowa, General