DES MOINES – March Madness is upon us, and State Treasurer Roby Smith is using the tournament to spread the word about College Savings Iowa. “While many are preparing their brackets for the big tournament, I encourage you to elevate your game with College Savings Iowa,” said Smith. “Check out this list of reasons why the 529 plan can help you ‘hit the bank shot’ when it comes to saving for your scholars’ future.”
It’s a Team Effort
Just like basketball, saving for education shouldn’t be a one-person job. Grandparents, other relatives, neighbors, friends – you name it; anyone can open an account on behalf of a child. Maximize the savings by enlisting everyone on your team to have their own account for your student.
Maintain Control
In basketball, the point guard is usually the team leader and controls the offense. Likewise, as a College Savings Iowa Participant, you have all the control and decide where, when and how the funds are used, no matter your student’s age.
Pass the Ball
Did your child decide to take a gap year or forgo the higher education route? Don’t sweat it – you have options. Transfer the money to an eligible family member (sibling, cousin, etc.), keep the money in the account until they’re ready (funds never expire) or save it for yourself. The choice is in your court!
Customize Your Bracket
Arguably one of the most important decisions of March Madness is how you will fill out your bracket – especially when there’s money on the line. The same could be said about your 529 investments. Customize your portfolio to fit the timeline and needs of your student.
“The countdown is on, and before you know it, you’ll be hearing the final buzzer,” Smith said. “It only takes 10 minutes and $25 to get started. Now that’s a slam dunk!”
Connect with College Savings Iowa on Facebook, Instagram and X to stay up to date on current events and Plan updates. To learn more about College Savings Iowa, visit CollegeSavingsIowa.com or call (888) 672-9116. For additional details about the Plan, read the Program Description.
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