Hoosier can enter to win $10,000 toward a loved one’s college savings plan this month.
September is National College Savings Month, and Indiana Gov. Eric Holcomb is highlighting the importance of saving for education with a proclamation establishing this month as College Savings Month in Indiana. To commemorate this, one individual will be selected to win a $10,000 account deposit in the Indiana529 Education Sweepstakes, the Indiana State Treasurer announced in a news release.
Indiana529 is a direct savings plan for future education needs for families. It provides account owners and gift contributors flexibility when it comes to saving for education after high school. Funds can be used 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 Accounts grow tax-deferred and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, computers, equipment and fees, according to the news release.
Indiana taxpayers may also be eligible for an annual state income tax credit of 20% of contributions to their Indiana529 accounts, worth up to $1,500 each year or $750 for married couples filing separately.
To enter the $10,000 sweepstakes, individuals 18 years of age or older must complete the entry form available at MyIndiana529.com/sweepstakes by 11:59 p.m. Sept. 30. The winner will be randomly selected from all eligible entries to receive a $10,000 Indiana529 account deposit, officials said.
For full contest rules and to enter, visit MyIndiana529.com/sweepstakes. For more information about Indiana529 savings plans, visit MyIndiana529.com.
