State Treasurer Roby Smith presented the Galema Family of Marshalltown with a $1,000 College Savings Iowa contribution. “The State Fair is an exciting time to get to interact with so many families and talk about the benefits of investing in education,” said Smith. “I’m thrilled to award this contribution to the Galema Family for two-year-old Aluxia and to help boost the financial support her family has already started for her to pursue her dreams.”
Wayne Galema, Aluxia’s grandfather, entered the Iowa State Fair Giveaway on behalf of each of his grandchildren. “I am excited to be a College Savings Iowa 529 Iowa State Fair winner. We have entered 529 contests in the past and saw the opportunity to register for the giveaway at the State Fair booth,” stated Galema. “All five of our grandchildren have Iowa 529 accounts for college.”
College Savings Iowa provides families a tax-advantaged way to save for education. Earnings grow federally tax-deferred and qualified withdrawals are tax free. Iowa taxpayers saving with the Plan can deduct up to $3,785 in contributions per Beneficiary account from their 2023 state 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. In addition to higher-education expenses, up to $10,000 of College Savings Iowa funds can also be used to pay for tuition at accredited K-12 private schools per year.
To learn more about the Plan, visit CollegeSavingsIowa.com or call (888) 672-9116. Connect with College Savings Iowa on Facebook and Twitter to stay informed on current events and updates. For additional details about the Plan, read the Program Description.