There’s So Much to L-O-V-E About College Savings Iowa

February 19, 2024

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DES MOINES, Iowa – State Treasurer Roby Smith is sharing the love of saving with the College Savings Iowa 529 plan. “Looking at the benefits of saving with the Plan, there’s a lot to love,” said Smith. “Show the children in your life you believe in their potential by investing in their future with dedicated education savings. It’s an easy choice with the L-O-V-E benefits of College Savings Iowa!”

Limitless: Help prepare them for wherever their journey leads.

With limitless possibilities of what path your child may choose for their future, a College Savings Iowa account can help turn their dreams into reality. To prepare them for wherever their journey may lead, funds can be used at any eligible educational institution including colleges, universities, trade schools and apprenticeship programs in the U.S. and abroad.

Options: 14 different investment options to choose from.

Plan according to your own risk tolerance and investment strategy with College Savings Iowa’s diverse selection of investment options. It’s a great way to help keep your family’s education savings goals on track.

Village: Friends and family can help you save.

It takes a village! With the cost of education rising, parents don’t have to save alone. Friends and relatives can open their own accounts or contribute directly to an existing account at ugift529.com.

Expenses: Use funds for more than just college tuition.

Use account funds for room & board, books, supplies, fees, equipment and other qualified education expenses. Additionally, up to $10,000 can be withdrawn to pay for tuition expenses in connection with enrollment at a K-12 institution per year or used for repayment of any qualified education loan.

“And now for the cherry on top,” concluded Smith. “Your account earnings grow federally tax-deferred, and qualified withdrawals are tax free. Iowa taxpayers saving with the Plan can deduct up to $4,028 per Beneficiary account from their 2024 state income taxes.”

To learn more about the Plan, visit CollegeSavingsIowa.com or call (888) 672-9116. Connect with College Savings Iowa on Facebook, Instagram and X to stay informed on current events and updates. For additional details about the Plan, read the Program Description.

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