New program enables Louisiana families to save for K-12 tuition

Saving money for education

New program enables Louisiana families to save for K-12 tuition
Louisiana State Capitol

SHREVEPORT, LA (KSLA) - The State of Louisiana is offering a special education savings plan to help parents fund their child’s education. START K12 gives families the ability to save for tuition expenses at any Louisiana school that provides kindergarten through twelfth grade education.

This program is handled through the Louisiana Tuition Trust Authority, that is made of representatives from all of the state’s education governing boards. Anyone with a social security number is eligible to participate.

For private school parents, this savings plan can help them with high tuition costs. Within the program there are five investment options that are all exempt from federal taxes.

“It can be a struggle to pay for tuition, especially if you are on a single income,” private school Parent Maxie Rambin says. “My daughter has been in private school here entire life and we’ve spent more than $70,000.”

Through the program an account owner can select one or more investment funds with different kinds of equity mutual funds and age based track funds. Also, there are no fees charged to participants.

To learn more about the program click here for the website.

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