Treasurer Smith Awards $529 College Savings Iowa Contribution to Family in Linn County
DES MOINES – State Treasurer Roby Smith awarded a $529 College Savings Iowa contribution to the Hamilton family of Marion. Nash was randomly drawn as the winner of one of Smith’s 529 Day giveaways. “I understand the importance of saving for higher education, which is why I am honored to provide this boost to Nash’s education savings,” said Smith. “Open a College Savings Iowa account for a student in your life and you could be the difference between a dream and reality!”
Treasurer Smith celebrated 529 Day, recognized on May 29, with weekly $529 College Savings Iowa giveaways throughout May. 529 Day is celebrated nationally to raise awareness of the benefits of using a 529 plan, such as College Savings Iowa, to save for education expenses. “Just as each child’s dreams are unique, so is each family’s savings path to get them there,” continued Smith. “College Savings Iowa has options for every investor, and with as little as $25, anyone can open an account to support a child in their life.”
Kelly Hamilton, the winning entrant, met with Smith at the Marion Public Library for a check presentation and discussed her College Savings Iowa account for Nash. “I started the 529 plan when Nash was born,” said Hamilton. “18 years goes very fast but the 529 plan was ready and waiting for him when he graduated.”
College Savings Iowa is a way for parents, grandparents, friends and other relatives to invest on behalf of a future scholar. The funds in College Savings Iowa are not just for a traditional four-year degree. It can be used at trade schools, apprenticeship programs, colleges, universities, K-12 schools and other eligible education institutions. Qualified expenses range from tuition, room and board, books, supplies and more.
The Plan also helps Participants save on taxes while they save for education. College Savings Iowa account assets grow deferred from federal and state income taxes, and Iowa taxpayers can receive a tax deduction up to $3,785 per beneficiary account for their contributions.
To learn more about the Plan, visit CollegeSavingsIowa.com or call (888) 672-9116. Connect with College Savings Iowa on Facebook and Twitter to stay informed on current events and updates. For additional details about the Plan, read the Program Description.