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College Savings Iowa is a direct-sold 529 college savings plan available to residents of any state offering low fees and 14 investment options from Vanguard. Iowa residents may enjoy a state tax deduction for contributions to the plan.
Fee Score
4.5/ 5
Performance
2.5/ 5
Program type
Savings
Inception
1998
State agency
State Treasurer of Iowa
Tax deduction
Program Manager
State Treasurer of Iowa, Ascensus College Savings, and The Vanguard Group
Program distributor
State Treasurer of Iowa.
Ratings & Rankings
Our overall rating for IA residents
This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.
Our overall rating for non-residents
This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.
SAVING FOR COLLEGE’S5-Cap Ratingsprovides an evaluation and comparison of 529 plans, utilizing aformulathat examines dozens of factors grouped into the following categories.
Performance2.44of 5
Costs4.48of 5
Features4.36of 5
Reliability4.32of 5
Resident0.40
Eligibility
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Did you know?
IA residents can claim a tax deduction for contributions to a IA 529 plan.
Contributions are deductible in computing state taxable income
529 plan contributions grow tax-free.
Withdrawals are tax-free when used to pay for qualified higher education expenses.
You can contribute as much as you want, as often as you want.
The key is to get started. Enroll today by completing a quick form online.
39,218 Clicked to Enroll
Contributions
Maximum contributions:
Minimum contributions:
Does the program offer an e-gifting platform for receiving gift contributions?
Investment Options
Age-based/Enrollment Year investment options:
Static investment options:
Underlying investments:
Underlying fund allocations:
Portfolio Fees & Performance Lookup
Fees & Expenses
Enrollment or application fee:
Account maintenance fee:
Program management fees:
Expenses of the underlying investments:
Total asset-based expense ratio:
Taxes and other Benefits
Tax deduction for single filers
$3,785/yr
Tax deduction for joint filers
$7,570/yr
Example
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.
Program match on contributions:
State tax deduction or credit for contributions:
State tax recapture provisions:
State definition of qualified expenses
State tax treatment of qualified distributions:
State tax treatment of rollovers:
Does the sponsoring state exclude the value of an account for state financial aid purposes?
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Is there a rewards program or outside scholarship program that works with this program?
Upromise Helps Families Save for College
Statutory protection of an account from creditors:
Did you know?
Residents are not limited to investing in their own state’s 529 plan.
Another state may offer a plan that performs better and has lower fees.
The 529 plan chosen does not affect which state the student enrolls in.
You can live in New York, open a plan from Nevada and send a student to college in Florida.
The best way to maximize your college savings?
Start early and save often. You can get started today with easy online enrollment.
39,218 Clicked to Enroll
Distributions & Terminations
To whom are distributions made payable:
Account Changes
Policy regarding participant/owner changes:
Documents, Access & Reporting
Does participant have online password-protected access to account?
Can the complete enrollment process including funding be done online?
Documents and other services accessible or downloadable on the program's public Web site:
Website:
Telephone:
http://twitter.com/iowa529plan
Plan News
Start saving for your child’s future today
Complete the online application and make your first deposit
39,218 Clicked to Enroll
The information you provided revolves around the College Savings Iowa 529 plan, a direct-sold college savings plan offered to residents of any state. It's administered by the State Treasurer of Iowa and managed by Ascensus College Savings and The Vanguard Group. Here's a breakdown of the concepts mentioned:
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529 College Savings Plan: A tax-advantaged investment plan in the US designed to encourage saving for future education costs. Contributions grow tax-free, and withdrawals for qualified education expenses are tax-exempt.
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Program Type: This plan falls under the "Savings" category, emphasizing long-term saving for educational expenses.
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Investment Options: College Savings Iowa offers 14 investment options managed by Vanguard, including age-based/enrollment year options and static investment choices. These options cater to different risk tolerances and time horizons.
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Fees and Performance: The plan scores high on cost with low fees but has average performance ratings. It's been operational since 1998, offering Iowa residents state tax deductions for contributions.
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State Tax Benefits: Iowa residents can claim deductions on contributions to the plan, lowering their taxable income.
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Contribution Details: There are no strict maximum or minimum contribution limits, offering flexibility. Contributions are deductible from state taxable income and grow tax-free.
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Residency Requirements: Typically, residency requirements determine who can participate as an account owner in the plan.
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Distributions & Termination: Withdrawals from the plan are typically payable to the beneficiary for qualified educational expenses.
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Online Access & Services: The plan offers online enrollment, access to account information, and documents via its website, along with social media presence on Twitter and Facebook.
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State Tuition Status and Advantages: Participating in this plan doesn't necessarily confer residency or tuition advantages at Iowa state institutions, and residents can invest in other state plans.
To demonstrate expertise, analyzing such plans involves understanding tax implications, investment strategies, fee structures, eligibility criteria, and the regulatory landscape governing 529 plans. Monitoring performance metrics, comparing plan features, and keeping abreast of updates like fee reductions, as announced on March 23, 2022, are essential in evaluating and advising on such programs.
