ISave 529 is the new name for Iowa’s direct-sold 529 plan, formerly College Savings Iowa, the Iowa State Treasurer Roby Smith announced in a news release.
“Saving for education encompasses a variety of paths, whether that be K-12 tuition, two- or four-year college, graduate school or apprenticeship programs,” Mr. Smith. “We have worked diligently to spread the word about the flexibility of using a 529 plan to help with all of these options and ISave 529 represents our commitment to making education savings a reality for any student’s dream.”
To celebrate, ISave 529 is doing a giveaway to help one lucky family add to their education savings.
“Enter our giveaway at Iowa529Contest.com by Sept. 30 and you could win a $5,290 contribution to the education savings for a child in your life,” the treasurer added. “That’s enough to cover an entire year’s tuition at a community college in the state.”
Plan gets updated
Along with the new name, the release said other updates have been made to the plan. They include adding age-bands and portfolios for some investment options and increasing the maximum amount savers can contribute to their account.
“Providing options and an easy way to save has always been our No. 1 priority, and these changes reflect that,” Mr. Sith said
A 529 plan is a type of investment account used to save for tuition, room and board, books, and feeds. It also cover other qualified education expenses at qualified education institutions. Account owners can benefit from a variety of tax advantages. They include tax-deferred earnings, tax-free qualified withdrawals and Iowa income tax deductions.
Learn more about ISave 529 at ISave529.com or calling (888) 672-9116. Follow ISave 529 on Facebook, Instagram and X for current events and updates.
