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Mourdock declares September as College Savings Month

Wednesday, September 1, 2010

Richard Mourdock
INDIANAPOLIS -- State Treasurer Richard Mourdock announced Wednesday that September had been declared "College Savings Month," by Gov. Mitch Daniels as part of an effort to encourage Hoosier families to begin saving for their children's future, educational expenses.

"It is imperative that we begin preparing for our children's futures as early as possible," Mourdock said. "With our CollegeChoice 529 Savings Plan, Hoosier families can begin doing that now. Every dollar saved today is one less a Hoosier family will have to borrow in the future."

CollegeChoice 529 Savings Plans (CollegeChoice Plans) are college education savings programs that offer a wide range of investment options, have low fees, and qualify for a state income tax credit of up to $1,000 each year for Hoosier residents.

Parents, grandparents, friends and others, may contribute to a CollegeChoice 529 Savings (CollegeChoice) account on behalf of any beneficiary.

Since 2008, the number of CollegeChoice accounts in Indiana has grown more than 63 percent with assets totaling more than $1.2 billion.

College Savings Month is a time for families across the state to consider the value of higher education and the impact a college degree can have on their children's future.

Mourdock has asked companies around the state to consider offering CollegeChoice Plans as a voluntary benefit for their employees during the next open enrollment period and allow their employees to save for higher education through payroll direct deposit.

"Offering CollegeChoice 529 Plans is a great opportunity for Hoosier employees to save for their children's, grandchildren's or even their own career training," Mourdock said. "It's good for employees and good for their employers."

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