College Savings Iowa is a 529 plan that lets parents, grandparents, friends and relatives invest for education expenses on behalf of a future scholar. With funds and earnings from a College Savings Iowa account, families can pay for qualified expenses like tuition, room, board, books, supplies and more at any accredited program around the country.* The education institution does not have to be in Iowa and includes colleges, universities, community colleges, trade schools, apprenticeship programs and more.
For 2021, if an Iowa taxpayer is a College Savings Iowa account owner, they can deduct the first $3,474 they contribute per beneficiary account from their state taxable income.** For example, married participants who contribute to separate accounts on behalf of their two children can deduct up to $13,896 (4 x $3,474) on their 2021 Iowa taxes.
Visit our website for more information and to open an account.
Connect with the plan on social media to stay up to date on current events and plan updates.
More Information About College Savings Iowa
- Request a speaker for your event by completing the Speaker Request form.
- See how Iowans are saving throughout the state by visiting our Interactive Map.
- Check out the College Savings Iowa Fact Sheet to see total assets, total accounts, amount that's been withdrawn to pay for education and more.
*Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
**Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.
