State Treasurer of Iowa

Peace of Mind: The Perfect Holiday Gift

Are you looking for the perfect year-end gift that keeps on giving? Look no further than our College Savings Iowa 529 Plan. It’s a great way to present a gift that will continue to provide smiles, long after the holiday season ends. You can have peace of mind that the student in your life will have money set aside for their education.

By investing an initial $25 and just 10 minutes of your time, you can start the pathway to higher education for your child or grandchild. You might be asking yourself, “How does my initial investment keep on giving?” The answer is simple. You invest in their future and the funds continue to grow until they are ready to use them.

Whether they choose to use the funds for a postsecondary trade school, a two or four year college in the U.S., a postgraduate program, or even private K-12 institution, you can have peace of mind they will have money set aside for their education.* You can visit our website at collegesavingsiowa.com for more information on the benefits of saving with a 529 account.

Did you know that you can also benefit from investing in their future? As an Iowa taxpayer who participates in this plan, you can deduct up to $3,387 of your contributions per beneficiary in determining your adjusted gross income for Iowa income tax purposes for 2019.** Plus, you will always be able to maintain ownership of the account- even after the student has turned 18, which means you will always get to control the funds that you saved.

There are many great reasons to start a College Savings Iowa 529 Plan. The holiday season is a constant reminder of how fast life can go by. Whether you are creating an account to benefit your loved one, yourself, or both, don’t underestimate the value of time and sign up for an account today!

In addition, I’m celebrating the holiday season with you by giving away a $1,000 College Savings Iowa contribution! Any Iowan with a child or grandchild under the age of 18 can visit Iowa529Contest.com to register to win the giveaway before December 31. You do not need to already have a College Savings Iowa account to enter the giveaway, but I encourage every family to start their own College Savings Iowa account as soon as possible. Happy saving!

*Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements. Visit our website  for more information.

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

© 2019 State Treasurer of Iowa. All rights reserved.