INDIANA — Governor Mike Braun has officially proclaimed September 2026 as College Savings Month in Indiana, highlighting the critical importance of early financial planning for higher education and vocational training.
To mark the occasion, the Office of the Indiana Treasurer of State and Indiana529 launched a statewide sweepstakes offering one Hoosier family a $10,000 account deposit.
The $10,000 Indiana529 Education Sweepstakes is open to Indiana residents 18 years of age or older. Eligible individuals can enter by submitting an online entry form at MyIndiana529.com/sweepstakes before 11:59 p.m. on September 30, 2026. A single winner will be selected at random following the deadline.
“Every Hoosier child deserves the opportunity to choose the education and career path that’s right for them,” said Indiana State Treasurer Daniel Elliott. “A $10,000 Indiana529 account deposit supports their goals with less student loan debt.”
Flexibility and Tax Benefits for Hoosier Families
Indiana529 savings plans offer tax-advantaged growth to assist families in funding post-secondary education. Account funds can be utilized at any eligible college, university, trade school, or registered apprenticeship program nationwide and internationally.
Key features of the state program include:
- Tax-Free Growth & Withdrawals: Investment earnings accumulate tax-deferred, and distributions remain 100% tax-free when used for qualified higher education expenses, including tuition, housing, books, computers, and required equipment.
- 20% State Tax Credit: Indiana taxpayers contributing to an Indiana529 account are eligible for a 20% state income tax credit on annual contributions, providing up to a $1,500 maximum credit per year ($750 for married individuals filing separately).
- Broad Transferability: Family members, grandparents, and family friends can open accounts or contribute to existing plans on behalf of a beneficiary.
“The future will be here before you know it, and Indiana529 is here to help families plan for it,” said Marissa Rowe, executive director of the Indiana Education Savings Authority. “$10,000 is a strong start towards that future education and career.”
Administered by the Indiana Education Savings Authority under the leadership of Treasurer Elliott, the Indiana529 program manages over $9.4 billion in assets across more than 474,000 active accounts.
For complete official rules, sweepstakes entries, or program disclosure details, visit MyIndiana529.com.
