Treasurer of State Announces College Savings Plan Tour and Award

Treasurer of State Dennis Milligan announced his office is launching a 75 county GIFT Arkansas 529 tour and awarding 75 GIFT Arkansas $529 accounts. Beth Anne Rankin, Executive Director of the GIFT Arkansas 529 College Savings Program, will be visiting with county officials and local interest groups to educate and spread the word about the GIFT Arkansas 529 program.

The Treasurer of State’s office through the GIFT Arkansas 529 Plan will be awarding a $529 GIFT Arkansas 529 account for one eligible individual in all 75 counties. The enrollment period will begin March 9, 2015 and end on July 31, 2015. Winners will be announced on August 10, 2015. Each winner will be recognized at an event in Little Rock this September (details to be announced at a later date.)

Milligan stated, “as a high school senior some years ago, I knew my options for continuing my education into post-secondary schools was limited. My family did not have much and what we did have went to putting food on the table. Affording college was not in the cards.”

“However we have an amazing tool for all families, despite their income, to use that allows everyone to put money aside for post-secondary education ahead of time. That money is tax deductible and is to be used for expenses related to education,” Milligan continued.

Milligan said, “post-secondary education is not just limited to a four-year college or university. You can use these 529 accounts at vocational and technical institutions and two year colleges as well. We are in need of bright students to go into a technical education path and become successful tradesmen and women.”

“The GIFT Arkansas 529 College Savings Plan is that tool. With a minimal opening contribution of $25, families can start saving today for their children or grandchildren. In fact, anyone can put money into an account for any child,” Milligan continued.

Milligan stated, “through hard work and many sacrifices, I was able to make a living and provide for my family, but it is statistically proven that post-secondary education is critical for this current generation to make ends meet. There is hope with the youth in our state and many will be the first in their family to attend a post-secondary institution. We need to provide every opportunity and tool available to help them achieve this dream.”