Indiana529 launches ‘Faces of 529 Day’ Contest

Submitted by Office of Treasurer Daniel Elliott

Elliott

Treasurer of State Daniel Elliott announced Thursday the Indiana529 Faces of 529 Day Contest to celebrate National College Savings Plan Day on May 29 (5/29).

Indiana529 will award five winners with a $529 Indiana529 account deposit for sharing a photo of who they are saving for during the month of May.

To enter the contest, individuals 18 years of age or older must upload a photo of who they are saving for and complete the entry form at myindiana529.com/529day by 11:59 p.m. on May 29. Five individuals will be randomly selected from all eligible entries to win a $529 Indiana529 account deposit.

“This is a great opportunity for five families to receive a little boost to their future education and career training savings,” Treasurer Elliott said. “Families get a chance to show off their little Hoosiers and we help support their dreams.”

Indiana529 provides families with flexibility and choice when it comes to saving for education after high school. Funds can be used at any eligible school or qualified apprenticeship program, both in- and out-of-state. Accounts grow tax-deferred and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, equipment, and fees.

Indiana taxpayers may also be eligible for an annual state income tax credit of 20 percent of contributions to Indiana529 accounts, worth up to $1,500 each year ($750 for married couples filing separately).

“Our hope is to raise awareness of Indiana529 with this contest,” Program Executive Director Marissa Rowe said. “We can’t wait to add $529 to five new or existing accounts.”

For full contest rules and to enter, visit myindiana529.com/529day. For more information about Indiana529 Savings Plans, visit myindiana529.com.