State Treasurer of Iowa

College Savings Iowa Rated One of the Top Three 529 Plans in the Nation

January 14, 2010

DES MOINES, Iowa - State Treasurer Michael L. Fitzgerald announced today that College Savings Iowa has received top ratings from Headline News money expert Clark Howard.

“We’re pleased that College Savings Iowa has been recognized as one of the top plans in the nation,” Fitzgerald stated. “It’s always great to have a financial expert acknowledge our great program. We strive to provide individuals with the best way to save for college."

College Savings Iowa was listed as one of the top three 529 plans in the country by Clark Howard, making his Dean’s List with High Honors. To read his review of College Savings Iowa, please visit http://tips.blogs.cnn.com/2009/12/15/the-best-way-to-save-for-college. 

College Savings Iowa is a state-sponsored 529 plan designed to give families a flexible, affordable way to save money for college.  College Savings Iowa lets anyone – parents, grandparents, friends and relatives – invest for college on behalf of a child. Investors can choose from thirteen Vanguard investment options, including four age-based investment tracks.  Iowa taxpayers can deduct up to $2,811 in contributions per beneficiary account from their adjusted gross income in 2010.*

Withdrawals used to pay for qualified higher education expenses including tuition, books, supplies and room and board at any eligible college, university, community college or accredited technical training school in the United States or abroad.** For more information about College Savings Iowa, visit www.collegesavingsiowa.com or call 888-672-9116.


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*If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. 
** 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.

For More Information:

Karen Austin, 515-281-7677, karen.austin@iowa.gov

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