Mourdock touts college savings plans, tax credits

By: The Associated Press
By: The Associated Press

State Treasurer Richard Mourdock is encouraging Indiana families to invest in college savings accounts and collect a state tax credit before the end of the year.

Mourdock says that contributors to CollegeChoice 529 savings accounts can take a state tax credit worth 20 percent of how much they invest, up to $1,000 per year. The accounts are not taxed and can be used for college expenses including tuition, fees, books, supplies, and certain room and board costs.

Parents, grandparents, friends, and others, can contribute to a CollegeChoice 529 account on behalf of the beneficiary and be eligible for the tax credit.

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