Win $529 for your child’s college education
HUNTSVILLE, Ala. (WAFF) - Do you have a child born between May 29, 2020, and May 29, 2021? If so, you could start a college savings account for your child with the help of the state.
Officials from Alabama’s 529 savings plan will write 29 lucky winners a check for $529 to start or add to an existing CollegeCounts account. You can visit the CollegeCounts website to register if you have an eligible newborn.
Alabama State Treasurer, John McMillian, says there are also great tax benefits involved.
“The extra bonus is if folks that contribute, like parents or grandparents, can get a tax deduction up to $10,000 for an Alabama income tax with a joint filing and 5,000 single filings,” says McMillian.
“It also has super tax advantages as well as being a very neat way to help set aside some money for education.”
Entries must be submitted by July 16th. Winners will have to provide a birth certificate to prove their child’s birthday to receive the prize money.
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