MASON CITY, Iowa – There’s no denying college is expensive and prices go up every year.
The state of Iowa is trying to help its students pay for higher education. Through the College Savings Iowa 529 plan, one lucky student under the age of 18 will be selected to win more than 5,000 dollars. Anyone can sign up for a tax-free plan for as little as $25..
Iowa State Treasurer Michael Fitzgerald tells us it’s never too early to start saving.
“The cost of going to college is sky-rocketing. Families now, if you have a baby born today, you’re looking at over $200,000 to send them to college. Then, you have no choice because we know you can earn a million, two million, or more in a career if you have post-high school training,” said Fitzgerald. He adds, “Studies show you’re six times more likely to go to college if you have some sort of savings account.”