Et cetera : Register For a Chance to Win a $5,290 College Savings Iowa Account

State Treasurer Michael L. Fitzgerald is advocating Iowans to take advantage of the benefits of College Savings Iowa to save for future education expenses. "We want parents to know it is never too soon to start planning for their children's education," Fitzgerald said. "And as a way to encourage families to take the first step towards saving, College Savings Iowa is giving away a $5,290 account this spring." Visit collegesavingsiowa.com to enter the giveaway and see official rules.

College Savings Iowa offers families a tax advantaged way to save money for their children's higher education. It only takes $25 to open an account, and anyone – parents, grandparents, friends and relatives – can invest in College Savings Iowa on behalf of a child. Iowa taxpayers have the additional benefit of being able to deduct contributions up to $3,098 per beneficiary account from their 2014 Iowa adjusted gross income.*

Investors do not need to be a state resident and can withdraw their investment federally tax-free to pay for qualified higher education expenses, which includes tuition, books, supplies and certain room and board costs at any eligible college, university, community college or technical training school in the United States or abroad.** To learn more about College Savings Iowa, please visit collegesavingsiowa.com or call 1-888-672-9116. For more information about future giveaways and events find College Savings Iowa on Facebook and Twitter (@Iowa529Plan).

*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.

**The Earnings portion of nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.