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Iowa to Award $1,000 in 529 Money to One Baby a Month

All Hospitals Eligible to Participate in Program


By Lee Barney

June 2, 2008

Iowa has launched a “Baby 529 College Savings Giveaway” program in which it will randomly award $1,000 in money toward a 529 plan to one baby a month at participating Iowa hospitals. Every family that registers their child, however, will also receive a small “welcome home” gift, courtesy of Iowa State Treasurer Michal L. Fitzgerald.

 

“We want to send a message to all new parents letting them know it’s never to early to start planning for a child’s future,” Fitzgerald said. “Even a small amount invested regularly can grow into a substantial amount over time,” the Treasurer added. In that state, parents, family or friends can open a 529 plan with as little as $25.


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