I know that the end of the school year is a busy time, but I would appreciate your help in reminding your patrons and employees to not take a summer vacation from investing in their students’ future. After tax season is a great time to remind families to check to see if they are eligible for the K.I.D.S. Matching Grant of up t0 $600. We will be mailing you posters in the fall for K.I.D.S., and I have attached a flyer that you could use now. Below is text for an email that you could share:
Don’t take a summer vacation from investing for your student’s future. Learning Quest is the state’s 529 education savings program with tax advantages to help you be prepared for college, community college, technical college, and new in 2018 certain K-12 expenses.
· No minimum to open and account and you can contributed automatically through payroll deduction or ACH for as little as $25 per month.
· Contributions are with “post tax” dollars.
· You can deduct the amount of your contributions on your Kansas income tax return up to $3,000 for single filers and $6,000 for joint filers per beneficiary.
· Earnings grow tax free and can be withdrawn tax free for qualified expenses.
· The state will match your contributions up to $600 each year that you are eligible through K.I.D.S. Matching Grant Program if your 2018 federal adjusted gross income was less than 200% of the federal poverty level based (currently $51,500 for a family of four plus or minus $8,840 for each family member.) Check https://www.learningquest.com/home/learn/kids-matching-grant.html to see if you qualify.
· 40% of KS households with a dependent are eligible for the K.I.D.S. Matching Grant.
· You can visit www.learningquest.com to learn more, call a Learning Quest specialist at 1800-579-2203 or contact me at 785-296-3171.
As you are planning for the fall, September is College Savings Month. Please contact me to schedule a presentation to you students’ parents on college costs and how to save. It can fit will into college and career planning conversations.
Scott M. Gates
General Counsel/Learning Quest Director
Office of Kansas State Treasurer Jake LaTurner