Submitted by Office of Indiana Treasurer Daniel Elliott
Treasurer of State Daniel Elliott announced Tuesday, Jan. 13 that the Indiana529 education savings plans have exceeded $9 billion in assets in more than 463,000 accounts.
“Reaching this incredible milestone is a testament to the Hoosier spirit – Hoosiers work hard and save hard,” Treasurer Elliott said. “With tax-deferred growth and our generous state tax credit, Indiana529 is trusted by more Hoosiers saving more money for future education and career paths than ever before.”
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 Accounts grow tax-deferred and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, equipment, and fees.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).
“What a great way to kick off 2026,” Program Executive Director Marissa Rowe said. “Whether it’s our low minimum investment of 10 dollars, convenient mobile app, or weekly educational webinars, we’re here to help your family start saving for tomorrow today.”
For an introduction to Indiana529 Savings Plans, register to attend a Webinar Wednesday at indiana529direct.com.
For more information about Indiana529 Savings Plans, visit myindiana529.com.