INDIANAPOLIS (WOWO): Indiana is promoting its college savings accounts by giving away 10-thousand dollars to reload one of them.Indiana began its College Choice 529 program in 1997.
The tax-advantaged accounts allow you to accumulate interest toward your kids' eventual college tuition. State Treasurer Kelly Mitchell says the advantages aren't just financial — she says studies show students with a 529 account in their name are six times more likely to attend college.
The program lets you make contributions of as little as 10 dollars at a time, which accumulate interest tax-free as long as the money is eventually used to attend college.
Mitchell say 250-thousand Hoosiers have four-billion dollars invested in the program.