The new College Savings Iowa plan, run by the Iowa State Treasurer’s office, gives parents and students assistance to make saving for college much easier.

The plan is part of a national network of college savings programs designed to help students get a head start on saving money, according to Kathy Tyson of the National Association of State Treasurers.

Prior to the network’s existence, such programs were not widespread, she said.

“From the national point of view, when the network was established in 1991, there were only seven states with a college savings program,” Tyson said.

She said she defines a “college savings program” to include prepaid tuition and savings trusts.

As of this year, she said, 35 savings plans are in operation with eight more scheduled to begin by the end of this year.

“With more than 800,000 children represented nationwide, this is one of the fastest-growing state initiatives today,” Tyson said.

She said College Savings Iowa is set up so that parents, relatives or friends who live anywhere in the United States can start saving for an Iowa child’s college education early on.

To participate in the program, the child must be under the age of 17 and have a social security number, Tyson said. The money the adult saves goes through the state treasurer where it is placed into an account and is put into bonds or trusts.

Iowa State Treasurer Mike Fitzgerald said the program is an excellent idea and he hopes it will stick around for awhile.

“When it came time to vote for the program every member of the Legislature voted for it,” he said.

Tyson said distribution of the money specifically varies by the age of the child. The money can be used for any public or private school in the United States.

Fitzgerald said the program is beneficial to the adults who contribute money because they are rewarded with tax breaks. The money saved is tax-free at the state level and is deferred at the federal level, he said.

“The program seems to be fairly popular,” Fitzgerald said. “We already have 5,000 accounts set up and almost $7.5 million.”

For more information, visit the state treasurer’s Web site at www.treasurer.state.ia.us or call (877)-joinCSI.