College Savings Iowa 529 Day Celebration
College Savings Iowa Celebrates 529 Day with a $1,000 Giveaway!
529 Day, nationally recognized each year on May 29, is a day where 529 plans around the country come together to bring awareness about the benefits and tax incentives families receive when saving for future education expenses with a 529 plan. As administrator of College Savings Iowa, one of Iowa’s 529 plans, I am proud to celebrate by giving away a $1,000 College Savings Iowa account contribution to help an Iowa family start or boost a 529 education savings account. All residents of Iowa with a child or grandchild under 18 years old are eligible. Visit Iowa529Contest.com by May 31, 2024, to register.
As a subscriber to ISL Education Lending’s SP3 —Student Planning Pointers for Parents, you probably have an eighth- to 12th-grade student who is planning their post-secondary education move. College Savings Iowa can help you plan for those expenses, and when it comes time to use those funds, the sky is the limit! Savings can be used to pay for a variety of education-related expenses, such as tuition, housing and meals, books and supplies, and transportation. Plus, your student can attend any eligible education institution in the U.S. or abroad, including colleges, universities, trade schools, apprenticeship programs and more.
When you save with College Savings Iowa, there are benefits for you, too! Earnings are federally tax-deferred and Iowa state tax-free. Additionally, Iowa taxpayers can take the state income tax deduction of up to $4,028 in contributions per Beneficiary account in 2024.
With great tax incentives and an abundance of eligible uses, it’s easy to understand how over $5 billion has been used to pay for educational expenses. Additionally, current savers have more than $6 billion in assets waiting to be used for their student’s next adventure! To see everything the Plan has to offer, visit CollegeSavingsIowa.com or contact us at (888) 672-9116. Happy saving!
Roby Smith
Iowa State Treasurer
For additional details about College Savings Iowa, read the Program Description.
About the Author: Roby Smith is the State Treasurer of Iowa and administrator of the College Savings Iowa 529 education savings plan. He serves as the State’s banker, coordinates bonding and invests Iowa’s money. Treasurer Smith is also the administrator of Iowa’s unclaimed property and Iowa’s ABLE plan for individuals with disabilities. To learn more about the Treasurer, visit IowaTreasurer.gov.
Don’t live in Iowa? Check here for a list of states with 529 plans.
Next Steps
Be sure to complete the survey questions at the end of this article to be entered into the 529 deposit giveaway!
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