In an effort to encourage families to encourage families to learn more about the Nebraska Educational Savings Trust, the state treasurer's office will be hosting a drawing for a monetary contribution towards a 529 college savings account at Husker Harvest Days.
Winners of the drawing at the agriculture-centered festival will win a $529 contribution to a NEST account.
"This drawing is a wonderful opportunity for a familyto get started saving for a child or grandchild or for an adult to begin savingto resume his or her education," Stenberg said.
Nebraska residents who are 18 and older are eligible to enterthe drawing at the office's booth Sept. 10-12 at Husker Harvest Daysnear Grand Island. The winner will be announced Sept. 19.
Additionally, the booth will offer information about Nebraska's state-sponsored program. Nebraska's 529 program is a tax-advantaged investment plandesigned to encourage saving for the future higher education expenses of adesignated beneficiary.
Withdrawals from 529 plans for qualified educationexpenses, including tuition, books and some board and room expenses, are freefrom federal and state income tax. In Nebraska's program, account holders whoare Nebraska taxpayers are eligible for up to $5,000 a year in state taxdeductions.
The Nebraska Educational Savings Trust maintains more than $3 billion in assets for more than 206,000 accounts across the United States, of which there are more than 58,000 accounts are in Nebraska.