IDeal - Idaho College Savings Program is Idaho's state-sponsored 529 program. Its mission is to help families save for education costs in a tax advantaged way.
- Tax-deferred earnings and tax-free withdrawals for qualified expenses
- Special deduction for Idaho taxpayers of up to $6,000 ($12,000 married, filing jointly) per year from adjusted gross income for tax periods beginning January 1, 2017.
- Estate planning advantages: reduce your personal taxable estate by making five years' worth of gifts (up to $75,000; $150,000 married, filing jointly) in one lump sum3
Qualified withdrawals from a 529 account can be used toward the following qualified education expenses:
K-12 public, private and religious schools:
- tuition only, up to $10,000 per year, per student from all accounts combined.
- certain room and board costs (on or off campus)
- mandatory fees
- books and supplies
- computer software and internet access
- registered apprenticeship programs
Student loan repayment:
- up to a lifetime total of $10,000 per beneficiary
Funds in a 529 account can be used at any eligible education institution anywhere in the country, not just in Idaho, including:
- K-12 (tuition only)
- 2- or 4-year colleges or universities
- vocational/technical schools
- career retraining schools
- dual credit courses
- graduate schools
Easy to get started
It only takes $25 and 15 minutes or less to open an account.
Please see the Disclosure Statement for important information.
- Open an account after reading about the plan's features and benefits. You'll be asked to choose:
- a beneficiary (the future student). A SSN#, birth date and address are required to set up an account
- how you'll be contributing
- how you'd like your money to be invested (see below)
- Choose an investment option that's right for you.
- Start saving. Even small, regular contributions can add up over time.
The customer service center is open Monday - Friday from 6:00 a.m. to 6:00 p.m. mountain time to answer questions. 1-866-433-2533.
Anyone can open an Idaho's 529 Program account. There are NO income or age limits for beneficiaries.
The SNAP or food assistance program excludes IDeal - Idaho College Savings Program account balances from resource calculations.