Treasurer Fitzgerald’s Holiday Gift: 99 College Savings Iowa Contributions
DES MOINES, Iowa – State Treasurer Michael L. Fitzgerald is giving away 99 College Savings Iowa contributions to spread the word about gifting education savings this holiday season. As part of the 2021 Year End giveaway, one winner from each of Iowa’s 99 counties will receive a $529 contribution to their College Savings Iowa 529 account. “As we approach the season of giving, we want to share the joy of saving with College Savings Iowa,” said Fitzgerald. “This giveaway is just one of the ways we can encourage Iowans to learn about all the benefits of saving with a 529 plan.”
With the cost of higher education continuing to rise, college and other post-secondary options can seem like a financial impossibility. However, knowledge is power, and with payoffs like better jobs and higher pay, education is usually worth the expense. “To help give a boost to their savings, I encourage everyone to register for the giveaway at Iowa529Contest.com,” continued Fitzgerald. “You can continue to spread holiday cheer by making a contribution to an existing College Savings Iowa account or opening your first account. It only takes 10 minutes and as little as $25.”
College Savings Iowa is a tax-advantaged 529 plan helping families and friends save for the costs of higher education. From tuition to room and board to textbooks and supplies, College Savings Iowa has you covered. Earnings in an account grow state and federally tax deferred.* Iowa taxpayers are also able to deduct $3,474 from their adjusted gross income per beneficiary account for 2021.**
This holiday season, enter the Year End giveaway for the chance to win a county-prize of $529 and invest in a loved one’s future by giving them a meaningful gift in the form of a College Savings Iowa account. For more information on the plan, visit CollegeSavingsIowa.com. Follow the program on Twitter and Facebook for participant tips, plan updates and news.
*Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
**Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.