State Treasurer Roby Smith is Raising Awareness for Higher Education Day
DES MOINES – Treasurer Roby Smith is celebrating Higher Education Day. Observed annually on June 6, the day commemorates the importance of post-secondary education. “Trade school, vocational program, college or university – it pays to continue pursuing those education dreams beyond a high school diploma,” stated Smith. “Saving in a dedicated education account, like College Savings Iowa, shows a loved one you believe in them and their potential.”
College Savings Iowa provides families a tax-advantaged way to save for education dreams. Earnings grow federally tax-deferred and qualified withdrawals are tax free. Iowa taxpayers saving with the Plan can deduct up to $3,785 per beneficiary account from their state income taxes. Money invested in College Savings Iowa can be used to pay for tuition, room and board, computers, textbooks and more at any eligible education institution in the U.S. or abroad.
“While there are opportunities for grants, financial aid and scholarships, these typically don’t cover the entire cost. Saving and planning for post-secondary education is essential. Any amount of saving can help reduce student loan debt, but the earlier you begin saving and investing, the more opportunity that money has to grow,” Smith continued. “It’s never too late to begin investing in a loved one’s, or your own, education dreams.”
Connect with College Savings Iowa on Facebook and Twitter to stay up to date on current events and Plan updates. 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.