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Idaho State Treasurer Ron Crane Celebrates Statewide Winners of the IDeal - Idaho College Savings Program Contest.

Seventy-one Idahoans Win Cash Contributions into IDeal Accounts to Help Save for College

BOISE, Idaho -- As part of recognizing September as College Savings Month, Idaho State Treasurer Ron Crane took part in a ceremony at the Idaho State House on August 24, 2010, celebrating with several winners of the statewide IDeal -- Idaho College Savings Program 529 Day Contest. Seventy-one Idahoans received a welcome surprise from Treasurer Crane -- as much as $529 for their IDeal account--to help boost their college savings efforts.

Idaho residents who opened or contributed to an IDeal account between May 1 and June 15, 2010 were automatically entered into a random drawing sponsored by Qwest, DeBest Inc, Citi, and Norco. Eleven grand prize winners received a $529 contribution into their IDeal account while an additional sixty winners received a $52.90 contribution into their IDeal account. Approximately 3,500 Idahoans participated in the IDeal 529 Day Contest this year, contributing more than $2 million in savings for their child's or beneficiary's college education.

"Our children deserve the brightest futures possible and that is why it is so important for families to start saving for higher education now with a program like IDeal," said Treasurer Crane. "I'm thrilled that our generous sponsors stepped up to the plate to give a gift of college savings to these seventy-one lucky Idaho families. At the same time, it's important to remember that you don't have to win a contest to start saving for college today."

IDeal offers a flexible and affordable way to save for college. Idaho taxpayers can deduct up to $4,000 ($8,000 if married, filing jointly) from their adjusted gross income for contributions into IDeal.* Earnings grow tax deferred and qualified withdrawals are tax free.** In addition, assets in an IDeal account can be used to pay for any qualified higher education expense including tuition, required books, fees, equipment, and certain room and board expenses at any eligible two- or four-year college, vocational/technical school, or graduate school across the country.

College Savings Month is a time for families all over Idaho and nationwide to consider the value of higher education. It is vital for parents to realize how much a college degree can impact a child's life. According to the College Board's Trends in College Pricing, 2009 the median family income in 2008 for those with a bachelor's degree or more was $101,099, compared to $49,414 for those with a high school diploma.

"College Savings Month is the IDeal opportunity to start saving for college," said Treasurer Crane. "I encourage all Idaho families to invest in their child's future by opening an IDeal account today."

For more information visit idsaves.org.

*Contributions to IDeal are deductible from Idaho state income tax, subject to recapture in certain circumstances, such as a non-qualified withdrawal or a rollover to another state's qualified tuition program in the year of the rollover and the prior tax year. **Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

For more information about IDeal - Idaho College Savings Program, call 1-866-433-2533 or visit www.idsaves.org to obtain a Disclosure Statement. The Disclosure Statement discusses investment objectives, risks, charges, expenses, and other important information. Because investing in IDeal is an important decision for you and your family, you should read and consider the Disclosure Statement carefully before investing. Upromise Investments, Inc. Distributor and Underwriter.

If you are not an Idaho taxpayer, consider before investing whether your or the beneficiary's home state offers any state tax or other benefits that are only available for investments in that state's qualified tuition program.

IDeal is administered by the Idaho College Savings Program Board. Upromise Investments, Inc., serves as program manager and Upromise Investment Advisors, LLC, provides investment advisory services and recordkeeping and administrative services. Upromise Investments, Inc. and Upromise Investment Advisors, LLC, have overall responsibility for the day-to-day operations, including marketing and distribution of IDeal. The Vanguard Group, Inc., serves as Investment Manager for IDeal. IDeal's portfolios, although they invest in mutual funds, are not mutual funds.

Investment returns are not guaranteed, and you could lose money by investing in IDeal.
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Publication:Business Wire
Geographic Code:1U8ID
Date:Sep 20, 2010
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