Statewide, Iowa – State Treasurer Roby (Rob-EE) Smith says there’s been a change in the state’s education savings plan.
Smith says the I-Save 529 plan age-based savings tracks have been replace with a new enrollment-based portfolio.
Smith says you can still decide your best option for investing with the enrollment portfolios.
He adds the key is to start an account and contribute to it regularly.
The plan used to be centered on saving for college, but Smith says you can save for any type of education.
He says it’s easy to open an education savings account.
Smith says the growth of the account is the long term benefit, and you can save short term by writing off donations on your Iowa tax form. You can write off up to $6,100 for each person that contributes to the account.
KIWA Staff Photo
