September is National College Savings Month, and Gov. Eric Holcomb has highlighted the importance of saving for education with a proclamation establishing September as College Savings Month in Indiana.

To celebrate, one individual will be selected to win a $10,000 account deposit in the CollegeChoice 529 Education Sweepstakes.

To enter the sweepstakes, individuals 18 or older must complete the entry form available online at collegechoicedirect.com/september by 11:59 p.m. Sept. 30. The winner will be randomly selected from eligible entries.

“This $10,000 giveaway will make a tremendous impact whether a family is saving for a technical or trade program, a registered apprenticeship or a four-year degree,” state Treasurer Kelly Mitchell said.

CollegeChoice 529 provides account owners and gift contributors flexibility when it comes to saving for education after high school. Funds can be used at any eligible school or registered apprenticeship program, both in- and out-of-state. Accounts grow tax-deferred, and distributions are tax-free as long as the money is withdrawn to pay for qualified education expenses like tuition, books, computers, equipment and fees.

Indiana taxpayers also may be eligible for an annual state income tax credit of 20% of contributions to their CollegeChoice 529 accounts, worth up to $1,000 each year ($500 for married couples filing separately).

For rules and to enter, visit collegechoicedirect.com/september. For information about CollegeChoice 529 Savings Plans, visit collegechoicedirect.com/plans.