Morningstar Names College Savings Iowa as a 529 Plan Medalist

November 2, 2022

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Des Moines, Iowa – State Treasurer Michael Fitzgerald is pleased to announce that Morningstar has named College Savings Iowa as a 529 Bronze Medalist in their November 2, 2022 report. “It comes as no surprise to me that College Savings Iowa is a medalist,” said Fitzgerald. “Iowa has a great plan that has helped thousands of families save for education expenses. We continue to provide individuals a plan that is low-cost and flexible enough to meet their savings needs.”

Morningstar releases its 529 Analyst Ratings annually and recommends investors choose any of the plans that receive a medal rating. According to the report, “Investors in these medalist 529 plans should be well-positioned for the future.” The report went on to complement College Savings Iowa’s recent price reduction, which made the plan one of the industry’s least expensive plans. “Since I started the plan in 1998, my goal for College Savings Iowa has been to have an easy-to-understand plan with professionally managed investments that is affordable for Iowans,” Fitzgerald added. “College Savings Iowa does just that!”

College Savings Iowa is a 529-investment plan that gives parents, grandparents, friends and relatives a tax-advantaged way to save for education on behalf of a future scholar. With funds and earnings from their accounts, College Savings Iowa participants have withdrawn more than $4.5 billion to pay for qualified expenses like tuition, room, board, books, supplies and more at accredited programs around the country. While the Morningstar ratings do not take into account state tax benefits, Iowa taxpayers have the added benefit of a $3,522 per beneficiary tax deduction when investing with College Savings Iowa in 2022.    

Partnering with Vanguard, College Savings Iowa offers 14 portfolios for all types of investors. The four age-based savings tracks allow participants to choose a portfolio that will gradually and automatically shift from more aggressive to more conservative as the beneficiary nears higher-education age. The 10 individual portfolios give participants the opportunity to customize and create their own unique savings portfolios. All of College Savings Iowa’s investment portfolios are professionally managed by Vanguard.

To learn more about College Savings Iowa, visit CollegeSavingsIowa.com or call (888) 672-9116. For additional details about the Plan, read the Program Description.

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