State Treasurer Roby Smith encourages families to utilize College Savings Iowa to help prepare for their little ghosts’ and ghouls’ future education. “Halloween is meant to be the scariest time of the year, but it’s also an opportunity to ask your children what they want to be when they grow up,” said Smith. “Whether that’s dressing up as a police officer, princess, veterinarian, doctor or something else, College Savings Iowa can help you prepare to make those dreams a reality.”
The College Savings Iowa 529 plan is a tax-advantaged way to put money aside for education. Anyone, including parents, grandparents, neighbors and friends, can open an account on behalf of a child. “Similar to how it takes a whole neighborhood to help fill your child’s candy bucket on Halloween, the same could be said when it comes to filling up their education savings,” Smith said. “Each member of the family can open their own account to save for the same child. Doesn’t get much sweeter than that!”
College Savings Iowa investments can be withdrawn tax-free to pay for tuition; room and board; books; supplies; and other qualified education expenses at any eligible educational institution in the U.S. or abroad. This includes two- and four-year universities, technical training schools and apprenticeship programs. Additionally, up to $10,000 per year per student can be used for K-12 tuition.
“Saving for education doesn’t need to be scary,” concluded Smith. “Open an account with just $25 and in less time than it takes for you to walk around the block during Halloween festivities.”
To learn more about College Savings Iowa and its tax benefits, visit CollegeSavingsIowa.com or call (888) 672-9116. Connect with the Plan on Facebook , Instagram and X, formerly known as Twitter, to stay informed on current events and updates. For additional details about College Savings Iowa, read the Program Description.