State Treasurer Roby Smith announced that ISave 529, formerly College Savings Iowa, has been ranked in the top 10 for five-year and 10-year investment returns. ISave 529 is a tax-advantaged investment program designed for Iowa parents, grandparents, and guardians to contribute financially to a child’s future education expenses. Funds can be used for tuition, room and board, computers, textbooks, and more at eligible institutions, including colleges, trade schools, and apprenticeship programs. Smith says, “These rankings validate what I already knew, which is that ISave 529 provides best-in-class investments for families who want to save for education. We are thrilled with how our plan stacks up against other plans across the nation!” The program ranked fourth in the country on 10-year investments, boasting an average return of 6.38 percent. Maryland’s program took the top spot with 6.53 percent. Iowa’s five-year returns ranked 10th at 6.36 percent, compared to West Virginia in first with 7.94 percent. Saving for College analyzes 529 portfolios quarterly, ranking savings plans based on the performance of age-based and target-year portfolios. For more information on how to begin saving for your child’s future education, follow the links included below.
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