State Treasurer Michael L. Fitzgerald is asking Iowans to celebrate 529 Day on May 29 by exploring the benefits of using a 529 plan, such as College Savings Iowa, to save for their loved one’s future higher education expenses. “We want parents to know it’s never too early to start planning for their child’s education,” Fitzgerald said. “As a way to raise awareness about 529 plans, families are able to gain a jump start on saving for their child’s future education by registering any time before May 29 for the chance to win a free $5,290 College Savings Iowa account.” For more information and to enter the giveaway, please visit www.collegesavingsiowa.com
May 29 was declared 529 Day in order to help bring attention to the fact that saving for college is one of the most significant things families can do for their children. Those who begin putting away money early can, over time, make their college savings add up. Since saving for future educational expenses is so important, Iowa families are encouraged to consider opening a College Savings Iowa account for a special child in their life.
College Savings Iowa offers families a tax advantaged way to save money for their children’s higher education. It only takes $25 to open an account, and anyone – parents, grandparents, friends and relatives – can invest in College Savings Iowa on behalf of a child. Iowa taxpayers have the additional benefit of being able to deduct contributions up to $3,045 per beneficiary account from their 2013 Iowa adjusted gross income.*
To learn more about College Savings Iowa, please visit myiowa529plan.com or call 1-888-672-9116. You can also like College Savings Iowa on Facebook by going to facebook.com/collegesavingsIowa529Plan to keep up to date on future events and giveaway opportunities.
*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.
Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as the responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.
For more information about the College Savings Iowa 529 Plan, call 1-888-672-9116, or visit www.myiowa529plan.com to obtain a Program Description. Investment objectives, risks, charges, expenses, and other important information are included in the Program Description; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor.
College Savings Iowa is an Iowa trust sponsored by the Iowa State Treasurer’s Office. The Treasurer of the State of Iowa sponsors and is responsible for overseeing the administration of the College Savings Iowa 529 Plan. The Vanguard Group, Inc., serves as Investment Manager and Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., assists the Treasurer with marketing and distributing the Plan. Upromise Investment Advisors, LLC, provides records administration services. The Plan’s portfolios, although they invest in Vanguard mutual funds, are not mutual funds.