Indiana Offers Incentive to Investing in 529 College Savings Plan

HU invests approximately $9 million each year to help make a Christ-centered education affordable and to partner with students and families who desire to attend HU. Families are often interested in pursuing creative ways to help finance their portion of their student’s Forester experience, and I point them to one of the best-kept secrets Indiana has to offer: College Choice 529 Direct Savings Plan.

Few students and families from Indiana are aware that they can claim a 20% tax credit on up to $5,000 per year in contributions to an Indiana 529 plan (for a maximum yearly credit of $1,000) as of January 2010. Moreover, beginning in 2019 this same credit incentive is available for K-12 savings plan contributions.

Direct savings plans are subject to some terms and specific uses, but if you have children, grandchildren, or college-aged students in your life, I encourage you to contact your financial planner or visit https://www.in.gov/tos/iesa/ to learn more about Indiana’s College Choice 529 plans and see if it is a right fit for you.