The college savings plan run by the state is getting more national recognition. State Treasurer Michael Fitzgerald oversees the College Savings Iowa plan. He says “Money” magazine rated five plans they would recommend to anyone in the U.S. and he says the Iowa plan was one of them. Fitzgerald says that comes on the heels of recommendations from Kiplinger financial magazine and Morningstar. Ftizgerald says Money liked the Iowa plan because it allows parents aged-based investments. He says if you have a new-born, you want your money in aggressive stock plans. When the child gets older, you want it in more conservative bond plans. He says the Iowa plan was also lauded for its low management costs.He says some plans charge five-point-seven-five percent per year, while the Iowa plan charges less than one percent. The College Savings Iowa plan also provides you with a deduction on your state income tax. For more information, contact the State Treasurer’s office or surf to: www.collegesavingsiowa.com.
