Treasurer Smith Awards $1,000 College Savings Iowa Account Contribution to Helgeson Family of Lake Mills

DES MOINES, IA (06/28/2024) (readMedia)-- State Treasurer Roby Smith awarded a $1,000 College Savings Iowa contribution to the Helgeson family of Lake Mills after 5-year-old Clayton was drawn as a winner of the 529 Day campaign giveaway in May. "Investing in a child's future could be the difference between a dream and reality," said Smith. "I'm proud to have been a small part of what will become of Clayton's education path, and I look forward to seeing other families explore College Savings Iowa as a way to save for the loved ones in their lives."

Clayton's mother, Lauren Helgeson, entered him in the giveaway. "We are so grateful to be the winners of the $1,000 contribution that Treasurer Smith and College Savings Iowa are making to our son's account. We always knew we wanted to start a college savings account for our boys and are so happy we made that decision this year to start building on the opportunities this will hold for them later in life," Helgeson said.

College Savings Iowa, the state's 529 plan, offers tax-deferred growth and tax-free qualified withdrawals for all account owners. Additionally, Iowa taxpayers can deduct up to $5,500 in contributions per Beneficiary account from their 2024 state taxable income and all withdrawals are free from Iowa income taxes.

Money invested in College Savings Iowa can be used to pay for tuition, room and board, computers, textbooks and more at any eligible education institution in the U.S. or abroad. This includes two- and four-year colleges, apprenticeship programs and trade schools. In addition to higher-education expenses, up to $10,000 can be withdrawn to pay for tuition expenses in connection with enrollment at a K-12 institution or used for repayment of any qualified education loan.

To stay up to date on current events and updates, connect with College Savings Iowa on Facebook, Instagram and X. Learn more about College Savings Iowa by visiting CollegeSavingsIowa.com or calling (888) 672-9116. For additional details about the Plan, read the Program Description.