INDIANAPOLIS (May 3, 2021) — Treasurer of State Kelly Mitchell is announcing the CollegeChoice Faces of 529 Day Contest to celebrate National College Savings Plan Day on May 29. CollegeChoice 529 will award one winner with a $529 CollegeChoice account contribution for sharing a photo of who they are saving for during the month of May.
To enter the Faces of 529 Day Contest, a participant must upload a photo of their beneficiary with a caption and complete the Faces of 529 Day Contest form at www.collegechoicedirect.com/529day by 11:59 p.m. on May 29. One individual will be randomly selected from all eligible entries to win a $529 CollegeChoice 529 account deposit.
“Our Faces of 529 Day Contest is a great way to put the focus on what really matters – the individuals we’re saving for. Whether you’re investing for your children, grandchildren, or even yourself, we acknowledge the hard work of investing for the future. We can’t wait to celebrate one saver with an extra $529 deposited into their CollegeChoice account,” said Marissa Rowe, executive director of the program.
CollegeChoice 529 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 Accounts grow tax-deferred and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, computers, equipment, and fees.
Indiana taxpayers may also be eligible for an annual state income tax credit of 20 percent of contributions to their CollegeChoice 529 accounts, worth up to $1,000 each year ($500 for married couples filing separately).
About CollegeChoice 529 and the Indiana Education Savings Authority:
CollegeChoice 529 is Indiana’s tax-advantaged 529 education savings program and is offered and administered by the Indiana Education Savings Authority, a state government quasi-agency and board chaired by Treasurer of State Kelly Mitchell. CollegeChoice 529 includes the Direct, Advisor, and CD Plans and has more than $6.2 billion in assets under management in over 400,000 accounts as of March 31, 2021. To learn more or enroll in CollegeChoice Direct, call 1.866.485.9415 or visit www.collegechoicedirect.com. To learn more or enroll in CollegeChoice CD, call 1.888.913.2885 or visit www.collegechoicecd.com. To learn more about CollegeChoice Advisor, contact your financial advisor, call 1.866.485.9413, or visit www.collegechoiceadvisor529.com. These Disclosure Booklets include information on investment objectives, risks, charges, and expenses, and should be read and considered carefully before investing.
Indiana taxpayers are eligible for a state income tax credit of 20% of contributions to a CollegeChoice 529 account, up to $1,000 credit per year ($500 for married couples filing separately). This credit may be subject to recapture from the account owner (not the contributor) in certain circumstances, such as rollovers to another state’s 529 plan, federal nonqualified withdrawals, withdrawals used to pay elementary or secondary school tuition for a school outside of Indiana, or qualified education loan repayments as described in the Disclosure Booklet.