By Adam Klepp
YUMA, Ariz. (KECY, KYMA) - The Arizona state treasurer is asking 5th graders what their dream job is and how they plan on achieving it.
By answering, students could win $529 for their 529 college savings fund.
"Families are setting up their child's future when they begin saving for education with an AZ529 Plan," State Treasurer Kimberly Yee said. "We are excited to bring this essay contest to students across our great state.”
More than $10,000 will be distributed amongst the winners, as 20 or more students could be awarded the $529 prize.
Essays are due by October 2 and can be submitted here.
Yee says opening a 529 account early for your child is important, as the interest gained on the deposits only grows with time.
“If you put aside $50 a month, over 18 years at 6 percent interest, you’d have $18,000 ready to go in the bank for their higher education needs," Yee said.
Yee says 529 account money can also be used for community college and vocational school in addition to traditional four year universities.