Treasurer Fitzgerald Awards a $10,000 College Savings Iowa Contribution to Iowa Family
Des Moines, Iowa – State Treasurer Michael Fitzgerald recently awarded a $10,000 College Savings Iowa contribution to the Smith family of Council Bluffs. Two-year-old Oliver was randomly drawn as the winner of the 2022 September College Savings Month Giveaway. “College Savings Iowa is all about helping families save for higher education,” said Fitzgerald. “Through giveaways such as these, we emphasize the importance of investing in our youth and their future. College Savings Iowa is a great way to help you do that.”
College Savings Iowa joined other 529 plans in September to celebrate College Savings Month, which is a national campaign designed to inform family and friends about the importance of saving for higher education. As part of the College Savings Month festivities, College Savings Iowa hosted a giveaway in which one participant was eligible to win a $10,000 College Savings Iowa.
The Smith family received their College Savings Iowa contribution during a check presentation with Treasurer Fitzgerald on Wednesday, October 19 at Iowa Western Community College. Nick, the winning participant, was accompanied by his wife, Sloane, and two their sons, Oliver and Tate. “As educators, my wife and I will always stress the importance of education to our children,” said Nick. “We are extremely grateful for this gift that will help open more opportunities for Oliver’s future. We appreciate how easy the College Savings Iowa 529 plan has been to set up and contribute to so we can help relieve some of the financial burden higher education can pose for our children, nieces and nephews.”
College Savings Iowa is a tax-advantaged way for families to save for education-related expenses. Earnings in an account grow deferred from state and federal taxes, and qualified withdrawals are tax free. If a participant is an Iowa taxpayer, they can also deduct up to $3,522 per beneficiary account from their 2022 state income taxes.