Boise, ID (PRWEB) September 12, 2013
To celebrate Governor C.L. “Butch” Otter’s Proclamation that September is Idaho College Savings Month, State Treasurer Ron Crane will travel throughout Idaho for the first-ever “College for Kids Week.” From September 16 – 20, Treasurer Crane will be joining families at local schools and after-school programs, spreading the word about the importance of saving now for higher education. He will share how Idaho’s 529 college savings plan, IDeal, can help families with their college savings goals. One lucky winner will receive a $500 IDeal account scholarship at each location along the tour, courtesy of Upromise Investments, Inc., Program Manager of IDeal. Additional $500 scholarships are available to win through the end of September by visiting the IDeal website at http://www.idsaves.org.
Treasurer Crane will be making appearances in the following cities on the tour: Boise, Twin Falls, Pocatello, Idaho Falls area, Lewiston, Coeur d’Alene area and his home town of Nampa. Treasurer Crane’s focus will be talking with children and parents about the importance of higher education and encouraging kids to make it part of their future plans. Treasurer Crane believes it is important for every family to have some sort of financial plan in place so there is the opportunity for children to continue their education in some capacity in the future, whether its vocational training or traditional college. According to the Sallie Mae and IPSOS 2013 study, “How America Saves for College,” college savings have declined by 10 percent over the past three years, while interest rates on student loans and tuition rates have increased. As interest rates and tuition bills continue to increase, saving for college is more important than ever. It’s important your child is prepared for college both mentally and fiscally with an IDeal account.
IDeal is the state-sponsored 529 college savings plan that helps families start saving today for their children’s future higher education costs. Idaho taxpayers who invest in IDeal can receive an annual state income tax deduction (maximum $4,000 per individual taxpayer; $8,000 married and filing jointly as stated by the Idaho State Tax Commission Publication 170 Rev. 11-09-2010) from their Idaho state adjusted gross income for contributions to IDeal.* Friends and relatives can also contribute to an IDeal Account for birthdays, holidays or any other occasion through the convenience of Ugift®, a free online tool.**
Treasurer Crane says, “IDeal is an easy and convenient way to start saving for your child’s future. With the increase in tuition rates for higher education, your children will appreciate any help you are able to provide.”
The money invested in an IDeal Account can be used at any eligible 2- or 4-year college, university, vocational or technical school, or other postsecondary educational institution, not just in Idaho, but around the country and even abroad. Qualified withdrawals from your IDeal Account include tuition, required fees, required books and equipment and certain room and board costs.
About IDeal - Idaho College Savings Program
IDeal is Idaho’s 529 college savings program that lets parents, grandparents, family and friends save for a child’s college education. It’s easy to open an account and you’ll find a number of advantageous tax benefits. IDeal is administered by the Idaho College Savings Program Board. Upromise Investments serves as Program Manager.
For more information, contact Christine Stoll at 208-332-2935 or visit http://www.idsaves.org/save.
*Contributions to the IDeal - Idaho College Savings Program are deductible from Idaho state income tax, subject to recapture in certain circumstances, such as a non-qualified withdrawal or a rollover to another state's qualified tuition program in the year of the rollover and the prior tax year.
**Ugift is a registered service mark of Upromise, Inc., an affiliate of UII.
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