Treasurer of State Kelly Mitchell is announcing the CollegeChoice Faces of 529 Day Contest to celebrate National College Savings Plan Day on May 29 (5/29). CollegeChoice 529 will award one winner with a $529 CollegeChoice account contribution for sharing a photo with a caption of who they are saving for during the month of May.
To enter the contest, a participant must upload a photo of their beneficiary with a caption and complete the 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.
“Faces of 529 Day is an opportunity to put the focus on our beneficiaries of all ages,” said program Executive Director Marissa Rowe. “Each year, we receive great photos and captions, and we cannot wait to award the $529 account deposit to a family. Not a photographer? Don’t worry – the winner is selected at random.”
CollegeChoice 529 provides families with flexibility and choice when it comes to saving for education after high school. Funds can be used at any eligible school or qualified 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 Accounts grow tax-deferred and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, computers, equipment, and fees.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).