IOWA’S EDUCATION SAVINGS PROGRAM HAS SURPASSED SEVEN BILLION DOLLARS IN ASSETS, AN INCREASE OF ABOUT A BILLION DOLLARS IN ONE YEAR.
STATE TREASURER ROBY SMITH SAYS THE I-SAVE 5-2-9 PLAN CONTINUES TO GROW AS MORE FAMILIES SET ASIDE MONEY FOR FUTURE EDUCATION COSTS.
THE ACCOUNTS ALLOW SAVINGS TO GROW TAX-FREE WHEN USED FOR QUALIFIED EXPENSES LIKE TUITION, BOOKS, OR HOUSING, INCLUDING PRIVATE ELEMENTARY AND HIGH SCHOOLS.
SMITH MADE THE ANNOUNCEMENT DURING A VISIT TO WESTERN IOWA TECH COMMUNITY COLLEGE IN SIOUX CITY TODAY (TUESDAY).
IOWA TAXPAYERS WHO CONTRIBUTE CAN ALSO CLAIM A STATE TAX DEDUCTION OF UP TO $5,800 DOLLARS PER ACCOUNT ON THEIR 2025 TAXES. THAT NUMBER RISES TO $6,100 DOLLARS THIS YEAR.
File photo
