Press release from office of State Rep. Jim Pressel, R-Rolling Prairie
In recognition of National College Savings Month, Indiana’s CollegeChoice 529 has launched a $10,000 education sweepstakes. Contestants must be at least 18 years old and enter online by midnight on Sept. 30. A winner will be drawn and then receive a $10,000 contribution to a CollegeChoice 529 Savings Plan account to use toward higher education expenses.
Enter at: https://www.collegechoicedirect.com/home/september.html
With a 529 plan, also known as a qualified tuition plan, families can save money for post-secondary or higher education. Accounts can be opened with as little as $10 a month, and friends and family can easily contribute.
The funds can be used at any eligible school or registered apprenticeship program, both in and out of state. Account growth is tax-deferred and tax-free as long as the funds are used for education-related expenses such as tuition, books, computers and other fees.
Hoosier taxpayers may also be eligible for an annual state income tax credit of 20 percent of contributions to their CollegeChoice 529 accounts, worth up to $1,000 each year or $500 for married couples who file separately.
To learn more about CollegeChoice 529 Direct Savings Plans and open an account, click here:
https://www.collegechoicedirect.com/home.html
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