The State Treasurer is making some changes to the state fund that allows you to sock away money for your kid’s college education. The state-run “College Savings Iowa” program gives parents and guardians a state tax break for money set aside to pay for their children’s higher education. Treasurer Michael Fitzgerald says participation has grown so large that he’s been able to change the funds where the money’s invested. Fitzgerald says the change will allow him to cut the cost of managing the fund.Fitzgerald says the change will lower the cost of managing the fund to about one-half of one-percent of the money invested. Fitzgerald says C-S-I has been impacted by the stock market like a lot of other funds, but he says it’s a long-term investment that will help Iowa kids. Fitzgerald says another big change could also be in the works. He says discussions continue among Federal officials to give C-S-I participants a federal tax break for contributions, and students a tax exemption for earnings gained from the fund. Fitzgerald says current and prospective participants in the plan can now view account information on-line.Fitzgerald says C-S-I now has over 18-thousand participants with 58-million dollars invested.
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