One Hoosier will win $10,000 toward an education savings plan (Getty Images)
One Hoosier with a CollegeChoice Savings Plan will win a $10,000 deposit from a state sweepstakes this month, part of a state effort to encourage Hoosiers to save for higher education.
“The semester is in full swing, and with school on the mind, there’s no better time for Hoosiers to begin saving for their educational goals.” said Kelly Mitchell, the Indiana Treasurer of State said in a release. “This $10,000 giveaway will make a tremendous impact whether a family is saving for a technical or trade program, a registered apprenticeship, or a 4-year degree.”
The sweepstakes coincides with National College Savings Month, as established by a proclamation from Gov. Eric Holcomb certifying the sweepstakes. To enter, Hoosiers 18 years of age or older must complete the form at www.collegechoicedirect.com/september by 11:59 p.m. on September 30, 2022. A winner will be randomly selected from the eligible entries.
Funds in CollegeChoice 529 Savings Plans, a tax-advantaged education savings program administered by the Indiana Education Savings Authority, can be used at eligible schools or registered apprenticeship programs in- or out-of-state. The tax-deferred accounts and distributions are tax-free so long as money is used for qualified education expenses such as tuition, books, computers, equipment, and fees.
Indiana tax law may also grant filers an annual state income tax credit of 20% on their contributions, up to $1,000 each year.
“We would love to see a record number of families enter the contest,” said Marissa Rowe, executive director of the program. “Imagine what $10,000 could do for a Hoosier student.”
For more information about CollegeChoice 529 Savings Plans, visit www.collegechoicedirect.com/plans.
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