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State Treasurer Fitzgerald: Asks Iowans to observe May 29th as '529 College Savings Day'
5/29/2009

News from State of Iowa Treasurer's Office For more information contact: Michael Fitzgerald, 515-281-5368 / Karen Austin, 515-281-7677 State Treasurer Fitzgerald Asks Iowans to Observe May 29th as '529 College Savings Day' Announces the addition of the Ugift® service to College Savings Iowa

DES MOINES, IA (05/28/2009; 1400)(readMedia)-- State Treasurer Michael L. Fitzgerald is asking Iowans to observe May 29th as "529 Awareness Day" to help raise awareness of the benefits of using a 529 plan, such as College Savings Iowa, to save for future college expenses. "Even in tough economic times some things remain certain: children still grow up fast and the future will be here before you know it," said Fitzgerald. "It's never too early to start planning for a child's future education." In celebration of 529 Awareness Day, Fitzgerald is rolling out a new feature in College Savings Iowa. Ugift is an easy-to-use service which allows College Savings Iowa account owners to invite family and friends to celebrate a child's milestones with the gift of college savings. "What better way to celebrate the importance of saving for college than by asking your friends and family join you in your savings efforts," Fitzgerald said. 529 College Savings Day "529 College Savings Day" is a national awareness day sponsored by members of the College Savings Plans Network (CSPN) who are working to educate families about the importance of saving for college and ways the 529 college savings plans can help, especially during these tough economic times. "As administrator of Iowa's 529 plans, my message to families who are investing for a child's higher education has been consistent for more than a decade: those who start early will be in a better position to meet the challenge of paying for college when then time arrives," said Fitzgerald. All 529 plans enjoy tax-deferred growth and tax-free withdrawals, but only Iowa's plans, including College Savings Iowa, allow Iowa taxpayers to deduct up to $2,800 per account from their 2009 state taxable income. In addition, the money grows state tax deferred and participants enjoy tax-free withdrawals. There are no income or residency restrictions and the students can attend any federally accredited college, university, technical institution, etc. in the United States. Families are encouraged to observe 529 Awareness Day by opening a College Savings Iowa account and begin saving for their child's future education. An account can be opened with just $25 and additional investments can be as little as $25. For an enrollment kit or more information about College Savings Iowa, call toll free 1-888-672-9116 or visit [http://www.collegesavingsiowa.com/] http://www.collegesavingsiowa.com. Ugift® - Give college savings College Savings Iowa is proud to announce the addition of the Ugift service. This easy-to-use service allows College Savings Iowa account owners to invite family and friends to celebrate a child's milestones with the gift of college savings. Ugift lets the special people in their lives give one of the most meaningful presents a child may ever receive - help toward paying for a college education. When gifts are sent in with the specially coded coupons, they're transferred to the child's College Savings Iowa account. To learn more, account owners can log on to their existing College Savings Iowa accounts and click on the Ugift logo. Or go to [http://www.collegesavingsiowa.com/] http://www.collegesavingsiowa.com and click on Plan Details. Then click on Ugift FAQs under the Plan Highlights section.


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