Idaho has an ‘IDeal’ way to pay for school

The 529 College Savings Plan is more than the name suggests.
Published: Mar. 24, 2023 at 12:53 PM MDT
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BOISE, Idaho (KMVT/KSVT) —People looking for help with education expenses do have an option in the State of Idaho.

Something that’s been around for years, Idaho’s IDeal College Savings Plan is more than the name would suggest.

Executive Director of IDeal - Marilyn Whitney says, “An Idaho 529 plan can be used to pay for a range of education opportunities. It can be used for K through 12 tuition. It can be used for any post-secondary program so not just a traditional two or four year college but a trade school and apprenticeship it can also be used to pay back student loans.”

Since it’s tax time there are more benefits ideal offers Idahoans.

It’s tax deductible on your Idaho return.

You can also put your tax return into the account - and many Idaho employers already have them for employees.

“It’s not just individuals and families that can benefit and get a tax advantage from Idaho’s college savings program. Employers can also get a tax credit for any money they contribute to an employee’s 529 plan,” said Whitney.