September is National College Savings Month, and Governor Eric Holcomb has highlighted the importance of saving for education with a Proclamation establishing September 2024 as College Savings Month in Indiana. To celebrate, one individual will be selected to win a $10,000 account deposit in the Indiana529 Education Sweepstakes.
To enter the Sweepstakes, individuals 18 years of age or older must complete the entry form available at MyIndiana529.com/sweepstakes by 11:59 p.m. Sept. 30, 2024. The winner will be randomly selected from all eligible entries to receive a $10,000 Indiana529 account deposit.
Elliott
“Whether it’s tech, trade, registered apprenticeships or traditional college, a child’s dreams are worth saving for,” Indiana Treasurer of State Daniel Elliott said. “We’re proud to offer one Indiana family $10,000 in an Indiana529 plan to jumpstart those savings.”
Indiana529 provides account owners and gift contributors flexibility when it comes to saving for education after high school. Funds can be used at any eligible school or registered 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 Accounts grow tax-deferred and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, computers, equipment, and fees.
Indiana taxpayers may also be eligible for an annual state income tax credit of 20 percent of contributions to their Indiana529 accounts, worth up to $1,500 each year ($750 for married couples filing separately).
Indiana taxpayers may also be eligible for an annual state income tax credit of 20 percent of contributions to their Indiana529 accounts, worth up to $1,500 each year ($750 for married couples filing separately).
“Indiana529 is an amazing tool for parents, grandparents, and even aunts and uncles to give the young person in their life a financial boost for the future,” said Marissa Rowe, executive director of the program. “Their dreams are worth saving for and $10,000 is an incredibly strong start.”
For full contest rules and to enter, please visit MyIndiana529.com/sweepstakes. For more information about Indiana529 Savings Plans, visit MyIndiana529.com.