 Saving Now for Education Costs Just Makes "Cents"
I?ve heard it time and time again from parents and grandparents of young children, ?It?s too early to start thinking about saving for education.? However, saving as early as possible for future education costs, even small increments over time, could have a huge payoff down the road!
With the power of compounding ? which is where you earn money on your investments and then earn money on those earnings ? you could maximize your savings by starting earlier rather than later. That?s the beauty of compounding!
The following image highlights how compounding could benefit a Participant starting to save at various ages of a child to be used at age 18.
 Chart explaining three different scenarios for saving. Family A: $5,000 initial contribution when child is a newborn + $100 monthly contributions + $26,812 in earnings = $53,412 total savings. Family B: $5,000 initial contribution when child is 6 + $100 monthly contributions + $11,895 in earnings = $31,295 total savings. Family C: $5,000 initial contribution when child is 12 + $100 monthly contributions + $15,823 in earnings = $15,823 total savings.
The hypothetical borrowing example doesn?t represent the performance of any particular investment. The assumed 6% rate of return is for illustrative purposes only. Actual market returns will fluctuate annually and aren?t guaranteed. The ending balance doesn?t take into account any taxes or penalties that may be due upon distribution.
 Robert D. Blue Scholarship Open to Iowa Students
The 2024 Robert D. Blue Scholarship application is now available online at rdblue.org. Applicants must be a current senior or former graduate of any Iowa high school who plans to attend a college or university within the state. Awards are based on financial need, an original essay, academic achievement and recommendations.
The Robert D. Blue scholarship is made possible by the Iowa Centennial Memorial Foundation. Any Iowa student who plans to attend an Iowa college or university is eligible for this award.
Applicants Requirement
- Iowa resident
- Plan to attend an in-state college or university during the 2024-2025 academic year
?Application Materials
?Iowa students who wish to apply for the scholarship are required to complete the application must do so online and are due May 10, 2024. Visit rdblue.org to apply and learn more.
 In Case You Missed It
National Unclaimed Property Day, held annually on February 1, saw big returns to past and present Iowans that found their names in the Great Iowa Treasure Hunt! We celebrated the big day with a social media campaign highlighting properties from various counties around the state. Did you miss out on Unclaimed Property Day? You don?t have to wait for next year?s celebration to search for your name or the names of family and friends. Visit GreatIowaTreasureHunt.gov to search today!
 From January 29 - February 4: Number of Claims = 6,652; Value of Claims = $2,904,640.82; Largest Claim = $280,101.56
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