Klinker helps mark 25th anniversary of Indiana 529 College Savings Plan
INDIANAPOLIS - State Representative Sheila J. Klinker (D-Lafayette) yesterday joined other state officials in marking the 25th anniversary of Indiana's CollegeChoice 529 Savings Plan. Klinker was one of the legislation's greatest supporters and continues to promote this opportunity as one of the most effective ways of saving for college.
Named after Section 529 of the Federal Revenue Code, 529 plans were established to help parents and grandparents save money for post-secondary or higher education. The features help make it one of the most popular ways to save for college; but primarily, these are financial instruments that allow folks to save money for a designated recipient who will receive college tuition credits when the beneficiary becomes eligible.
“I was pleased to be here at the Statehouse on Tuesday, March 21, celebrating the success of Indiana's 529 college savings plan,” Klinker said. “It is very difficult to believe that it has been 25 years since we successfully worked to get that legislation passed and signed by Governor Evan Bayh.
“The popularity of the CollegeChoice program continues to grow,” Klinker added. “When we first looked at this approach to saving for college, Indiana was truly a pioneer, and 25 years later, the success of our 529 plan really speaks for itself.”
Klinker noted that the CollegeChoice 529 Savings Plan has been tweaked and improved over those 25 years.
“As one of the original members who sponsored this legislation 25 years ago, I will continue to ensure that Indiana's 529 savings plan is among the finest in the nation,” Klinker said. “The value of higher education to future generations cannot be overestimated; and the CollegeChoice 529 Savings Plan allows our young people to pursue these vital educational opportunities.”
Click here for more information about the Indiana CollegeChoice 529 Savings Plan.