BATON ROUGE, LA – Christian Science Monitor news organization has named Louisiana’s START College Savings Program as the fifth best 529 plan in the nation, according to State Treasurer John Kennedy.

“START is a great program for several reasons,” said Treasurer Kennedy. “It allows parents to make an investment in their children’s future. As Christian Science Monitor noted, START helps parents save for their kids’ college education with little to no fees.”

A 529 plan, like START, is a savings mechanism that allows investors to set aside what they can and have the money professionally managed for future educational expenses. Disbursements for qualified expenses such as tuition are not subject to state or federal taxes.

An investor can exempt up to $2,400 in deposits per account per year from income reported on Louisiana state tax returns. Married couples filing jointly can exempt up to $4,800 per year.

“All you need to open a START account is $10,” said Treasurer Kennedy. “START puts saving for college in just about every parent’s reach. I’m proud that we have such a great program in Louisiana.”

START has more than 52,000 active participants and nearly $600 million in total assets. For more information on Louisiana’s START Saving Program, visit the Treasury’s website at www.LATreasury.com.

Contact:
Michelle Millhollon
(225) 342-0012
mmillhollon@treasury.state.la.us