|College Savings Iowa is Named One of the Most Affordable 529 Plans in the Nation|
|News Releases - Education & Schools|
|Written by readMedia|
|Monday, 02 May 2011 10:44|
DES MOINES, IA (04/28/2011)(readMedia)-- State Treasurer Michael L. Fitzgerald announced today that College Savings Iowa was listed as one of the top five most affordable 529 plans in the nation. Morningstar, an investment research firm, recently released its 2010 529 College-Savings Plans Research Paper and Industry Survey, which included an analysis of the costs of the 50 largest 529 plans in the nation.*
College Savings Iowa makes saving simple by offering all of its thirteen investment options at the same affordable price of 0.34% without any additional account fees. "As we all know, every penny counts these days, which is why College Savings Iowa works at keeping its costs low enough to enable investors to put more of their investment returns toward the right place: their children's education," Fitzgerald said. "Having Morningstar's national recognition helps reaffirm we are doing all we can to help families save for their children's future educational needs."
With an initial investment of only $25 to open an account, anyone – parents, grandparents, friends and relatives – can invest in College Savings Iowa on behalf of a child. Participants who are Iowa taxpayers can also deduct contributions up to $2,865 per beneficiary from their 2011 adjusted gross income, and there are no income or residency restrictions.** Investors can withdraw their investment federally tax-free to pay for qualified higher education expenses including tuition, books, supplies and certain room and board costs at any eligible college, university, community college or accredited technical training school in the United States or abroad.*** To learn more about College Savings Iowa, please visit www.collegesavingsiowa.com or call 1-888-672-9116.
*Morningstar 2010 529 College-Savings Plans Research Paper and Industry Survey. http://i.bnet.com/blogs/
**Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.
***Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
For more information about the College Savings Iowa 529 Plan, call 888-672-9116 or visit www.collegesavingsiowa.com to obtain a Program Description. Investment objectives, risks, charges, expenses, and other important information are included in the Program Description; read and consider it carefully before investing.
Tags See All Tags