INDIANAPOLIS, Ind. (WTWO/WAWV)— In honor of September being National College Savings Month, Indiana529 is going to be awarding someone with a $10,000 deposit in their Indiana529 account.
Indiana529 accounts are special bank accounts created by the Office of the Indiana Treasurer of State to help save for post-high school education. Funds from the account grow tax-deferred, and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses. These expenses can include tuition, books, computers, equipment, and fees. You could also be eligible for an annual state income tax credit of 20% of the contributions to your account up to $1,500 a year or $750 for married couples that file separately.
“Every Hoosier child deserves the opportunity to pursue their educational dreams,” said
Daniel Elliott, Indiana Treasurer of State. “We’re hoping to help make those dreams a
reality by awarding one Indiana family with a $10,000 Indiana529 account deposit.”
To enter the sweepstakes, you must be over the age of 18 and complete the entry form found here by 11:59 p.m. on September 30. The winner will be randomly selected from the eligible entries.
Indiana529 is here to help Hoosiers achieve the education after high school that’s best
for them,” said Marissa Rowe, executive director of the program. “This $10,000
investment will go a long way for a child pursuing a registered apprenticeship, 2- or 4-
year college, and beyond.”
For more information about Indiana529 savings plans, you can visit this link.
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