Des Moines, Iowa — If your child or one you love is headed for college anytime in the future, there’s a chance to win $1000 and learn more about investing for college at the same time.
To celebrate College Savings Month, Iowa State Treasurer Michael Fitzgerald has announced a $1,000 College Savings Iowa contribution giveaway. You can visit Iowa529Contest.com and complete the required information to register to win the $1,000 contribution.
Fitzgerald says they want as many families as possible to be involved in saving for college, and by giving away a $1,000 College Savings Iowa contribution, they hope to help families save while also sparking the conversation about getting everyone involved in saving for a child’s future.
The giveaway is open through September 30th and is open to all Iowa residents.
Fitzgerald says that it’s a great way to join others across the nation, in celebrating College Savings Month by learning about 529 plans and potentially getting a boost to your college savings. Participating families can also share the giveaway link on social media to get their friends and families involved.
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 $3,387 per beneficiary account from their 2019 Iowa income taxes.
Investors do not need to be a state resident and can withdraw their investment federally tax-free to pay for qualified higher education expenses, which includes tuition, books, supplies, and certain room and board costs at any eligible college, university, community college or technical training school in the United States or abroad.
