A higher-education savings plan for low-income families has been added to the state’s Learning Quest 529 Education Savings Program.
State Treasurer Dennis McKinney talked about the new option during a stop in Lyon County to award two first-place prizes to Olpe Junior High students who won essay contests that are part of the original Learning Quest program.
The new program, Kansas Investments in Developing Scholars (KIDS), provides a matching grant from the state for lower-income families, while also providing tax advantages.
Many Kansas families were not able to participate in the Learning Quest 529 savings plan, McKinney explained, so the Legislature created the KIDS option for families with incomes under 200 percent of poverty level.
KIDS participants must be Kansas residents and meet Federal Adjusted Gross Income guidelines for total household income.
The guidelines are, for the following household numbers:
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