DES MOINES, IA (08/14/2013)(readMedia)-- State Treasurer Michael Fitzgerald announced today that 85% of the children that participated in College Savings Iowa's annual State Fair survey show getting a college education is a necessary step to achieving their dreams and career aspirations. "Iowa children are already thinking about their futures," stated Fitzgerald. "This survey demonstrates how important it is for families to start planning and saving early to help make college a reality for their children."
"Every year we ask children visiting the fair what they want to be when they grow up and if they will need to go to college to achieve these goals," Fitzgerald said. "Needless to say, we are always amazed by the responses they offer." Seventeen percent are planning on becoming veterinarians, with another 11% hoping to become teachers. Doctor came in third this year with 8% of the responses, and nurse ranked fourth with 4%. "According to one child, it will cost him $14 to go to college to become Batman."
"Families that save and invest for their children's college education will be better prepared to meet the challenge of paying for it when the time arrives, and College Savings Iowa is here to help," added Fitzgerald. Anyone - parents, grandparents, friends and relatives - can invest in College Savings Iowa on behalf of a child. This year Iowa taxpayers can deduct up to $3,045 in contributions per beneficiary account from their adjusted gross income.* Investment returns are not guaranteed and you could lose money by investing in the plan. To learn more about College Savings Iowa, visit www.collegesavingsiowa.com or call 1-888-672-9116.
*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. The availability of tax or other benefits may be contingent on meeting other requirements.
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Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.
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. Vanguard Marketing Corporation, Distributor.
College Savings Iowa is an Iowa trust sponsored by the Iowa State Treasurer's Office. The Treasurer of the State of Iowa sponsors and is responsible for overseeing the administration of the College Savings Iowa 529 Plan. The Vanguard Group, Inc., serves as Investment Manager and Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., assists the Treasurer with marketing and distributing the Plan. Upromise Investment Advisors, LLC, provides records administration services. The Plan's portfolios, although they invest in Vanguard mutual funds, are not mutual funds.
