DES MOINES – State Treasurer Roby Smith is encouraging Iowa families to add a contribution to a College Savings Iowa account to their child’s holiday wish list. “The generosity of family and friends can sometimes feel a little overwhelming with new toys and gadgets for our kids, and flashy toys can lose their luster after a few months,” Smith said. “As you gather with friends and family this holiday season, share the magic of investing in your child’s education dreams.”
“There’s no need to worry about what size sweater or socks to get – a contribution to a College Savings Iowa account is a meaningful gift with flexibility that always fits,” continued Smith. Funds can be used to pay for tuition, room and board, books, computers, supplies and other qualified education-related expenses at any eligible education institution in the U.S. or abroad, including two- and four-year colleges, apprenticeship programs and trade schools. Additionally, up to $10,000 per student per year can be used for K-12 tuition.
“Opening a College Savings Iowa account or making a contribution to an existing account is the gift that keeps giving, not only for your student, but for you as well,” Smith concluded. Iowa taxpayers have the added benefit of deducting up to $3,785 of their contributions per Beneficiary account from their 2023 state income taxes.
For more information about College Savings Iowa, call (888) 672-9116 or visit CollegeSavingsIowa.com. Connect with College Savings Iowa on Facebook, Instagram and X, formerly Twitter, to stay up to date on current events and updates. For additional details about the Plan, read the Program Description.