State Treasurer of Iowa

College Savings Iowa is Celebrating 20 Years and College Savings Month With a Big Giveaway!

This fall, we are celebrating 20 years of savings with College Savings Iowa. Launched in 1998, I wanted a program that would help families save and achieve their higher education goals. Now 20 years later, College Savings Iowa has almost $5 billion in assets, over 250,000 open and unique accounts and an average account size of $20,000. As our assets have grown, our fees have continued to be reduced and are some of the lowest in nation at 0.20%. And, while it’s been great to look back at our success through the past two decades, we also want to look towards the future and get as many friends and families involved in saving for the future. 
  
To celebrate and get more people talking about and involved with College Savings Iowa, we will be giving away four $5,000 College Savings Iowa giveaway accounts and five $529 College Savings Iowa giveaway accounts! Visit Iowa529Contest.com, watch our video and register a child or grandchild in your life. Don’t forget to share the giveaway with your friends and family so they can get involved in saving for a brighter future. With over $20,000 worth of giveaways, we hope to help families get started and get closer to their college savings goals.
 
September is also College Savings Month, the national celebration of 529 plans. College Savings Month is all about educating and promoting the advantages and benefits of saving with a 529 plan. Our current and past account holders have always been our biggest advocates, and I’m always grateful for their kind words and their generous boost to our program. Take the time during this College Savings Month to learn more about College Savings Iowa yourself and talking to your friends and family about how they can get involved. With this 529 program, you can save for any kind of future for your children, grandchildren and even for yourself. If you want to learn more about College Savings Iowa, you can visit our website at CollegeSavingsIowa.com or call our education specialists at 888-672-9116.

Iowa taxpayers can also receive the benefit of a state tax deduction every year when they save with College Savings Iowa. For 2018, Iowa tax payers can deduct up to $3,319 in contributions per beneficiary from their 2018 Iowa state taxes.*  A married couple with two children will be able to deduct up to $13,276 in College Savings Iowa contributions on their 2018 state taxes as an example. 
For more information about College Savings Iowa, call 888-672-9116 or visit CollegeSavingsIowa.com. Connect with the plan on Facebook and Twitter (@Iowa529Plan) to stay up to date on current giveaways and events.
  
*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. The availability of tax or other benefits may be contingent on meeting other requirements. 
**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. 

 
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