With tax refunds now arriving for many Iowans, the Iowa State Treasurer’s Office is urging families to consider putting that money toward future education savings through the ISave 529 program.
State Treasurer Roby Smith says early IRS data shows many Americans are receiving larger refunds this year, creating what he calls a unique opportunity for families to boost their education savings. Smith says contributing a refund to an ISave 529 account now could help reduce the need for student loans in the future.
ISave 529 allows families to save for qualified education expenses, including tuition for colleges, trade schools and apprenticeships. Iowa taxpayers can deduct up to $6,100 per beneficiary account from their state income taxes.
Accounts can be opened online with as little as $25. More information can be found at ISave529.com.
Full press release below
