Saving for your child(ren) college is always a good thing.  Grandma, Grandpa, Aunts and Uncle can also help. 

Advantage for using Indiana 529 college choice fund for Indiana residence

-          Indiana offer’s a 20% refundable tax credit for contributions up to $5000 you can receive up to $1000 credit. (Must be Indiana’s College Choice Plan)

-          Tax-free withdrawals for college: As long as funds are used for qualified educational expenses.

-           529 accounts that do not impact financial aid eligibility:

-          Tax-deferred compounding: Any earnings on assets within the account are tax-deferred, so you can have maximum growth potential and save on taxes.

-          Each child can have maximum of two Indiana College Choice 529 plan one that parent can contribute and get the 20% credit and one grandparent or other family member can contribute and get the 20% credit also.