Fifth-graders from across the state may enter to win $529 toward their futures
The AZ529 organization is hosting its first-ever essay-writing contest, open to all 5th graders in the state! Twenty prizes worth $529 each will be awarded to winners in each county across Arizona, and the additional five will be split between Maricopa and Pima counties. To date, no essay has been submitted from Graham County.
The prompt is “I’ll change the world in 20 years by. . . ” And children can enter online or learn more by visiting: http://az529.gov/essaycontest
For the past 20 years, the Arizona Family College Savings Plan (AZ529) has helped families accumulate more than $1.9 billion in tax-deferred college savings. In honor of its 20th Anniversary, an essay-writing competition is now open to all fifth-grade students within the state of Arizona. The theme of the contest is, “In 20 years I’ll change the world by . . .”
Winners of the contest will receive $529 towards an AZ529 college savings plan. A total of 20 prizes will be awarded across the state. A winner will be selected from each of Arizona’s 15 counties, with an additional five awarded in Maricopa and Pima counties. In total, more than $10,500 will be allocated to 20 youth to assist in saving for their education plans beyond high school.
“Thinking about the future and planning for college is extremely vital, even for elementary school students” says Deena Lager, director of the Arizona Family College Savings Program. “We’re excited to celebrate our anniversary and share this essay-writing contest with fifth-graders around the state. It’s an opportunity to jumpstart their college savings by winning $529 to use toward their future goals. We want to make sure that every county is represented.”
The essay-writing contest is being held to commemorate 20 years of providing a successful college savings program for Arizonans. The goal of the writing challenge is to raise awareness of the AZ529 plan and to pave a path for another generation of students to achieve their post-secondary goals through savings and preventing future student loan debt. Entries will be accepted online and through direct mail from September 1, 2019 through October 31, 2019.
Arizona’s 529 plan, AZ529, offers a tax-advantaged way to put money aside for college. Arizona residents receive a dollar for dollar state tax deduction for contributions made to an AZ 529 account each year, up to $2,000 or $4,000 depending on filing status. Money earned over time will be tax-free if used for educational expenses. Additionally, friends and family members can contribute to a child’s AZ529 plan and earn the same tax benefits.