March 19, 2024

Treasurer encourages the gift of higher education

DES MOINES — State Treasurer Michael L. Fitzgerald has a simple solution for the gift-giving dilemmas of the holiday season.

“Instead of trying to put together a wish list of toys that will soon be forgotten or broken, invite the special people in your life to give one of the most meaningful gifts a child may ever receive,” Fitzgerald said. “Opening a College Savings Iowa account has two-fold benefits, not only are you helping a child prepare for his or her future education, but you can take advantage of the tax benefits as well. Anyone can help toward paying for a college education.”

College Savings Iowa lets anyone contribute towards college costs on behalf of a child. Iowa taxpayers contributing to College Savings Iowa can deduct up to $3,098 per account from their state taxable income in 2014.

To take advantage of this tax-savings opportunity, investors can contribute online at CollegeSavingsIowa.com. All contributions must be submitted by Dec. 31. To learn more about College Savings Iowa and Ugift, call 888-672-9116 or visit collegesavingsiowa.com. For more information, find College Savings Iowa on Facebook and Twitter.