Iowa State Treasurer Michael Fitzgerald recently celebrated “529 Day” with a $529 College Savings Iowa contribution to one family in each Iowa county.

The Michels family was randomly chosen as the winner from Marshall County.

Treasurer Fitzgerald is the administrator of the College Savings Iowa 529 Plan, which helps families save for the rising costs of education.

In addition to tax-deferred earnings and tax-free withdrawals, participants who are Iowa taxpayers can deduct up to $3,522 per beneficiary account from their Iowa income taxes in 2022.

Anyone can open an account on behalf of a child and use the funds to pay for qualified education expenses at any eligible education institution in the United States or abroad, including trade and vocational schools, colleges, universities and apprenticeship programs.

To learn more about College savings Iowa, you can visit collegesavingsiowa.com or call (888) 672-9116 to speak with an education specialist.