Indiana launches $10,000 CollegeChoice 529 sweepstakes

INDIANAPOLIS — Gov. Eric Holcomb declared September as College Savings Month in Indiana. To raise awareness, the state is holding a $10,000 education sweepstakes. 

To enter, students 18 years of age or older must complete the entry form at by 11:59 p.m. on Sept. 30. One winner will be randomly chosen for the $10,000 529 account deposit.

“We’re thrilled to celebrate College Savings Month by offering a $10,000 CollegeChoice 529 account deposit to one lucky winner,” said Kelly Mitchell, Indiana Treasurer of State. “This will be a tremendous boost to a family’s education savings, and we hope it will encourage more Hoosiers to join our CollegeChoice family of savers.”

A 529 can be used at any eligible school or registered apprenticeship program, both in- and out-of-state. Accounts grow tax-deferred, and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, computers, equipment, and fees.

Indiana taxpayers could also get a tax credit for 20% of their contribution up to $1,000 each year.

“Our goal with the $10,000 giveaway is to draw attention to education savings,” said Marissa Rowe, executive director of the program. “This contest is an exciting conversation starter, and we cannot wait to select our winner.”