Indiana Celebrates College Savings Month

Indy Chamber News Archives

Indiana’s CollegeChoice 529 and CollegeChoice Advisor Provide Path to College Education

Indianapolis – As the price of attending college continues to rise, it is increasingly important for students, parents and families to be educated on how to afford the expense. Today, the Indiana State Treasurer’s Office recognized September as College Savings Month, emphasizing Indiana’s commitment to helping Hoosiers prepare financially for the costs of higher education.

“We know how hard Indiana families work to meet everyday expenses while striving to prepare for the costs of continued learning,” said Troy Montigney, Executive Director of the Indiana Education Savings Authority (IESA). “College Savings Month gives us an opportunity to break down financial barriers and help them learn about options to save for the education they deserve.”

According to The College Board, the cost of college continues to rise faster than inflation, with the average 3.7% tuition increase in 2014-15 outpacing an inflation rate of less than 1.0%.

“Indiana residents shouldn’t have to dread sending their child to their dream school because of the cost,” said Indiana State Treasurer and IESA Chairwoman Kelly Mitchell. “We believe it’s extremely important to help families realize their college savings goals – and the first step is learning what it takes to accomplish them.”

According to 2010 U.S. census data, there are currently over 497,000 households in Indiana with children under the age of 18 as residents, yet only 70,344 CollegeChoice 529 Direct Savings Plan account owners and 98,250 CollegeChoice Advisor Plan account owners. College Savings Month is an ideal time to educate the rest of Indiana’s residents about their state’s tax-advantaged college savings options.

To learn more about the CollegeChoice 529 Direct Savings Plan, click here: www.collegechoicedirect.com

To learn more about the CollegeChoice Advisor 529 Savings Plan, click here: www.collegechoiceadvisor529.com

About CollegeChoice:

CollegeChoice 529 and CollegeChoice Advisor, Indiana’s 529 plans, let account owners focus on their future with a college savings plan that offers flexibility, valuable tax advantages¹, and affordable minimum contributions. 

¹ Earnings on non-qualified 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.

For more information about the CollegeChoice 529 Direct Savings Plan (“CollegeChoice 529”), call 1-866-485-9415 or visit www.collegechoicedirect.com to obtain a Disclosure Statement, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing. Ascensus Broker Dealer Services, Inc. (“ABD”) is Distributor of CollegeChoice 529.

If you are not an Indiana taxpayer, consider before investing whether your or the beneficiary’s home state offers any statetax or other benefits that are only available for investments in such state’s qualified tuition program.

CollegeChoice 529 is administered by the Indiana Education Savings Authority (Authority). ABD, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations, including investment advisory, recordkeeping and administrative services, and marketing. CollegeChoice 529’s Portfolios invest in: (i) mutual funds; or (ii) an FDIC-insured omnibus savings account held in trust by the Authority at Sallie Mae Bank. Except for the Savings Portfolio, investments in CollegeChoice 529 are not insured by the FDIC. Units of the Portfolios are municipal securities and the value of units will vary with market conditions.

Investment returns will vary depending upon the performance of the Portfolios you choose. Except to the extent of FDIC insurance available for the Savings Portfolio, depending on market conditions, you could loseall or a portion of your money by investing in CollegeChoice 529. Account Owners assume all investment risks as well as responsibility for any federal and state tax consequences.

Not FDIC-Insured (except for the Savings Portfolio). No Bank, State or Federal Guarantee. May Lose Value.

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Media Contact:

Troy Montigney, 317.232.5259, [email protected]

For more information on CollegeChoice and their savings plan, click here.