INDIANA 529 EDUCATION SAVINGS PLAN
How can an Indiana 529 Education Savings Plan help your family?
Learn more about this unique opportunity available to Hoosiers to help with qualifying private K-12 educational expenses.
Indiana 529 Education Savings Plan can be utilized to pay for private school education for Kindergarten through 12th grades. A fund can be set up at www.indiana529direct.com.
Indiana residents can claim a state income tax credit of 20% on contributions, up to a maximum credit of $1,500 per year. A contribution of $7,500 would yield the full $1,500 credit. This credit is non-refundable, reducing the taxpayer’s liability to zero but not resulting in a refund. Tuition can be reimbursed to the parent or paid to the school directly from the Fund.
Additionally, third party contributors like grandparents, godparents, or other family and friends who are also Indiana taxpayers may be eligible for the tax credit for contributions to your account.