Iowa giving away $10,000 for college savings

Published: Sep. 19, 2022 at 10:49 PM CDT
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CEDAR RAPIDS, Iowa (KCRG) - September is College Savings Month, and Iowa is highlighting the importance of planning ahead with a $10,000 giveaway.

One winner will receive money in the form of a newly established College Savings Iowa (CSI) 529 account or the deposit of money into an existing CSI account.

State Treasurer Michael Fitzgerald believes every family should open a savings account to help with education.

“This is designed to help families send kids to college, and we all know how expensive that’s getting,” said Fitzgerald.

He also believes the support savings provide is more than financial. “Studies show if you’re a parent or grandparent, and you start a savings program for a child or a grandchild, they know somebody’s behind them. They know there’s the expectation to go to college. It’s a proven boost,” said Fitzgerald.

Tris Kaufman is a sophomore at Cornell College. She said her parents pay for about half of her tuition, and a scholarship through the school pays the other half.

“They were really prepared for [paying for college] because my dad was a teacher when I was very little and so was my mom,” said Kaufman. “So they understood that money really needed to be set aside in order for all my siblings and I to go.”

“Save your money,” she added.

The deadline for the giveaway is September 30. More information and the link to enter can be found here.