Program helps La. families save for K-12 tuition

The Louisiana Office of Student Financial Assistance recently announced the launch of the START K12 Savings Plan, a tax-sheltered savings fund that can be used to pay for tuition costs related to kindergarten through 12th grade enrollment.

START K12 account owners will be eligible for federal tax benefits, including federal tax deferrals on deposit earnings, a limited federal tax deduction for tuition and related expense payments, and tax-free federal earnings when used toward Qualified Education Expenses.

State Treasurer John Schroder said in a news release the plan is designed to help Louisiana families “provide the best for their children” when it comes to education.

“For many (families), that means paying for private school,” Schroder said. “This can get very expensive, so every little bit helps.”

Like its college savings counterpart, START Saving, the START K12 Program treats deposits in a tax-favored manner under the provisions of Internal Revenue Code Section 529. Several changes on the federal level to the postsecondary program led to the creation of the separate K-12 program, said Carol Fulco, student financial aid director for the START division at LOSFA.

Remaining funds from a START K12 account can be rolled over into a START Saving account for post-secondary use. However, START Saving accounts can not be rolled back into a START K12 account.

The minimum deposit to open a START K12 account is $10, said Brittany Francis, LOSFA communications director. Withdrawals have a $10,000 annual cap and may be used only for K-12 tuition expenses.

For more information on eligibility or to open an account, visit, startsaving.la.gov or call 800-259-5626.

””LOFSAMGN Online

SportsPlus

Local News

Several area schools named after Black education pioneers, local legends

Crime

LC man accused of going on crime spree

McNeese Sports

Back to their roots

Jim Beam

Jim Beam column:Second Harvest news unsettling

Local News

Meet the candidates: Five throw hat in ring for mayor’s race

McNeese Sports

SLC games set for McNeese

McNeese Sports

Cowgirls look for four-peat

Local News

UPDATE: Drug charges against veterinarian cleared of rape dropped

Local News

Cassidy, Senate committee advances Robert F. Kennedy Jr. nomination to be health secretary

Business

Waffle House adds surcharge to eggs as massive bird flu outbreak leads to soaring prices

Local News

Federal judge blocks enforcement of La. police ‘buffer-zone’ law

Local News

Louisiana Armed Forces Alliance opens new offices

Local News

NY shields abortion pill prescribers after doctor indicted in La.

McNeese Sports

Cowboys win by a tick

Business

Wall Street swerves lower after Trump announces tariffs and then puts some on hold

Local News

A heart for kids: New Big Brothers Big Sisters CEO driven to help others

McNeese Sports

Hot-shooting Nicholls guns down Pokes

McNeese Sports

Cowgirls struggle early, fall to Nicholls

Informer

The Informer: Floods followed in wake of 1940 Gulf Coast storm

Business

Economic advisor: Collaboration, focus on workforce development key

Jim Beam

Jim Beam column:Professor back in classroom

life

String theory: Thompson rediscovers her art voice in fabrics

Local News

Qualifying ends, ballots set for March election

Crime

1/31: Calcasieu Parish Sheriff announces arrest list