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The IDeal Way to Help Make Education Dreams a Reality: From IDSaves

Updated: Apr 22

Don’t miss IDeal’s special June 2024 promotion

IDSaves: The Ideal way to Help Make Education Dreams a Reality


IDeal, Idaho’s state-sponsored 529 education savings program, is an important partner in helping Idaho families ensure they have the financial resources they need to achieve their education and career goals.

During the month of June 2024, IDeal is running a special promotion that will provide a $25 match for the first 100 new accounts that are opened and set up with a recurring contribution. You won't want to miss out on this special deal!

Since 2001, IDeal has helped tens of thousands of families save for education — whether their dreams include enrolling in a college or university in or outside Idaho, a workforce training program or a qualified apprenticeship. IDeal provides built-in tax advantages, flexible uses and easy enrollment that can help make education and training attainable for all Idahoans.

The tax benefits of saving through the Idaho 529 program include an Idaho state tax deduction of up to $6,000 for a single filer and $12,000 for a couple filing jointly per year from adjusted gross income. Any Idaho taxpayer who contributes to an IDeal — Idaho 529 can take the state tax deduction. You don’t have to be the account owner to contribute and take the state deduction. It’s a great way for grandparents, other family or friends to give a meaningful gift to a loved one. In addition, funds invested in Idaho’s 529 program grow tax deferred for both state and federal tax, as long as the funds are used for a qualified education expense.

1Another key benefit of Idaho’s 529 plan is that it’s flexible and can be used for a variety of education options including:

• Two or four-year colleges and universities nationwide (not just in Idaho)• Skills/career training programs

• Registered apprenticeships

• K-12 tuition 2

• Student loan repayment 3

Education can be expensive, whether that’s at a trade school, in an apprenticeship or at an eligible two- or four-year higher education institution. We all know people who are burdened with heavy student loan debt. It can lead to individuals and families delaying home ownership or starting a family. Again, IDeal can help individuals both with paying down their student loan debt through the Idaho 529 program, and by helping students and families understand the full cost of their education options and how much they may need to save to support those choices.

Many people are intimidated by investment programs, but they can be powerful tools for planning for the future and maximizing personal earnings and finances. By understanding the benefits of saving with IDeal, families also learn about investing and what investment options best suit their needs. At IDeal, they make saving easy, and IDeal account owners don’t need in-depth experience or knowledge of investing. They can choose which investment option works for them, including low-risk FDIC insured savings as well as a time of enrollment option, which lets savers “set it and forget it.”

Starting an account is simple. You just need the account owner and beneficiary’s social security numbers. Then, visit, choose an initial contribution amount (as low as $25) and a payment method, and choose an investment option.

IDeal also has an employer program, which can help employers recruit and retain talent. The program is free and simple to set up and provides a range of incentives to employers and their staff including:

Payroll Direct Deposit: This no-cost feature enables employees to save automatically after taxes — with a $15 per paycheck minimum.

Employee Tax Deduction: Employees who contribute to an Idaho 529 are eligible for a state tax deduction of up to $6,000 for single filers — or $12,000 for couples filing jointly — per year.

Employer Tax Credit: Employers who contribute to an employee’s Idaho 529 can earn a 20 percent state tax credit up to $500 per employee per year.

As Idaho’s official 529 program, IDeal’s goal is to encourage all Idahoans to achieve, excel and pursue their education and career dreams. IDeal staff is available to answer questions and assist you in getting started. Reach out today to learn how IDeal can help.



1 Contributions to the IDeal - Idaho College Savings Program 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. 2 529 funds can be used to pay for tuition only at any K-12 public, private or religious school. Limited to $10,000 per student annually. 3 Student loan repayments: Principal or interest on any qualified education loan of the Beneficiary or a sibling of the Beneficiary, up to $10,000 lifetime, per individual. If you make an education loan repayment from your Account, you may not also take a federal income tax deduction for any interest included in that education loan repayment.



For more information about the Idaho College Savings Program (“IDeal”), call 866.433.2533 or visit 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.

Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds and protection from creditors that are only available for investments in that state’s qualified tuition program.

IDeal is administered by the State College Savings Program Board (“Board”). Ascensus Broker Dealer Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations, including investment advisory, recordkeeping and administrative services. The Vanguard Group, Inc. (“Vanguard”) serves as Investment Manager for IDeal. Sallie Mae Bank serves as the Savings Portfolio Manager for IDeal. IDeal's Portfolios invest in either: (i) mutual funds and a separate account offered or managed by Vanguard; or (ii) an FDIC-insured omnibus savings account held in trust by the Board at Sallie Mae Bank. Except for the Savings Portfolio, investments in IDeal are not insured by the FDIC. Units of the Portfolios are municipal securities and the value of units will vary with market conditions.

Investment returns will vary depending upon the performance of the Portfolios you choose. Except to the extent of FDIC insurance available for the Savings Portfolio, you could lose all or a portion of your money by investing in IDeal, depending on market conditions. Account Owners assume all investment risks as well as responsibility for any federal and state tax consequences.

Not FDIC-Insured (except for the Savings Portfolio).

No Bank, State or Federal Guarantee.

May Lose Value.

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