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Idaho sees spike in college savings accounts

Idaho sees spike in college savings accounts

CSI enrollment down

From left, Shailee Gardner and Ashtyn Conger walk to the Taylor Building in November 2016 at the College of Southern Idaho in Twin Falls.

TWIN FALLS — The number of IDeal college savings accounts in the Magic Valley grew 7 percent last year, the state-sponsored program announced this week.

A similar growth trend is expected by the end of 2016, the program said in a statement.

This year, beneficiaries of IDeal — Idaho’s 529 college savings program received more than $1.1 million in their accounts, more than double last year’s amount.

One reason for the uptick: a new social sharing option for account holders.

They can share the link to an account via email or social media, which allows family members and friends to deposit money into a child’s account.

Donations made by Idaho taxpayers are also deductible from state income taxes.

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