DES MOINES — State Treasurer Michael Fitzgerald recently awarded a $529 College Savings Iowa contribution to the Utley family of Osceola. Seventeen year-old Marissa Utley was randomly drawn as the Clarke County winner of the 2020 College Savings Iowa Year-End Giveaway.
“I’m happy to award this contribution as a way to help another family with their education savings journey,” stated Fitzgerald. “College Savings Iowa giveaways are a great opportunity to reach individuals and families around the state and inform them about the benefits of saving with a 529 plan.”
College Savings Iowa celebrated the year-end and gift-giving season with a giveaway in each of Iowa’s 99 counties. The 99 county winners each received a $529 College Savings Iowa contribution, and one grand prize winner received a $1,529 College Savings Iowa contribution. “Nothing is better than giving 100 gifts to 100 families around the state,” Fitzgerald said. “I’m optimistic these contributions will inspire our future generations to pursue their education and career aspirations.”
College Savings Iowa is a 529 program that lets parents, grandparents, friends and relatives invest for education expenses on behalf of a future scholar. If an Iowa taxpayer is a College Savings Iowa account owner, they can deduct up to $3,474 in contributions per beneficiary account from their state taxable income in 2021.
With funds and earnings from a College Savings Iowa account, families can pay for qualified expenses like tuition, room, board, books, supplies and more at any accredited program around the country. The education institution does not have to be in Iowa and includes colleges, universities, community colleges, trade schools, apprenticeship programs and more. College Savings Iowa holds over $5.9 billion in assets and more than $3.3 billion has been withdrawn for qualified education expenses.
For more information about College Savings Iowa, call (888) 672-9116 or visit CollegeSavingsIowa.com. Connect with the plan on Facebook and Twitter to stay up to date on current events and plan updates.