Treasurer of State Daniel Elliott Monday announced that Indiana’s CollegeChoice 529 Savings Plans has rebranded to Indiana529. The new name and updated look reflect the expansion of 529 plans to provide more opportunities for families.
Indiana529 is the state-sponsored investment plan, offering a simple and tax-smart way to save for your children’s (or grandchildren’s) future education expenses. For every dollar you invest, savings grow tax-free and can be used for qualified expenses like tuition, fees, and equipment at eligible schools across the country, including 2- and 4-year colleges, tech and trade schools, graduate schools, and registered apprenticeship programs.
Indiana taxpayers may also be eligible for a generous state income tax credit of 20 percent of contributions to an Indiana529 account, up to $1,500 ($750 for married couples filing separately) per year. Since you don’t have to own the account to receive the credit, this makes gifting to an Indiana529 account very attractive to family and friends who want to support a child’s dreams.
For just $10, you can open an Indiana529 account and begin saving today. Visit MyIndiana529.com to learn more.
