One of the state’s top money men says even with the ups and downs of Wall Street, people shouldn’t be frightened of investing in the state college savings plan. While the College Savings Iowa program is invested in the market, Iowa Treasurer Michael Fitzgerald says it’s still a wise way to invest to plan for a child’s future education.
He says money put into the plan is invested in the market and the investors are given good guidance by his office and Vanguard Mutual Funds, and people can get Iowa tax deductions through the plan. Fitzgerald says people who are already in the plan should realize they are tied in to a good investment.
As for investments made for high school or college students, he says most of that money is in the bond market which has stayed fairly steady, while other long-term investors in the plan know the stock market will bounce back. Fitzgerald says if you are already involved with College Savings Iowa, keep on track with your original plans.
He says people involved in the plan already know that it’s geared to be a safe way to plan for a child’s education. Find out more information on-line at the College Savings Iowa website . .