A lucky Hoosier will win $10,000 as part of the CollegeChoice 529 Education Sweepstakes.
Gov. Eric Holcomb established Sept. 2023 as College Savings Month in Indiana, highlighting the importance of saving for education. In celebration of the month, sweepstakes is open to anyone 18 years or older. Entrants must fill out an entry form at collegechoicedirect.com/september by 11:59 p.m. Sept. 30. A winner will be randomly selected from all eligible entries to receive a $10,000 CollegeChoice 529 account deposit, according to a news release from the Indiana Education Savings Authority.
College Savings Month is a great opportunity to raise awareness for college savings, Indiana Treasurer of State Daniel Elliott said in a statement on the announcement.
“College Savings Month in Indiana is a great time to talk all options college and careers after high school,” he said. “Since 529 plans can be used for technical and trade programs, registered apprenticeships and four-year degrees, this sweepstakes will have a significant impact on a Hoosier family.”
CollegeChoice 529 account owners and gift contributors can use funds at any eligible school or registered apprenticeship program, both in and out of state. Accounts grow tax-deferred and distributions are tax-free as long as money is withdrawn to pay for tuition, books, computers, equipment, fees and other qualified education expenses, according to the release.
Indiana taxpayers may be eligible for an annual state income tax credit of 20% of contributions to their CollegeChoice 529 accounts, up to $1,500 a year or $750 for married couples filing separately, according to the release.
For more information about CollegeChoice 529 Savings Plans, visit collegechoicedirect.com/plans
