West Virginia State Treasurer Riley Moore touting 529 college savings plan

Local News

HARPERS FERRY, W.Va. (WDVM) — We all see the value of a college education. Paying for it, though, can be a challenge. West Virginia’s State Treasurer Riley Moore may be able to help.

Meet Nicholas Roush, a junior at Shepherd University who is proud to be furthering his education.

“I come from a family where nobody in my family had gone to college before,” said Roush, “so when I started looking at college, looking for loans and things I didn’t have a whole lot of guidance.”

For Roush, getting here was quite a challenge.

“The whole, like, Stafford loans and subsidized and non-subsidized loans is a complicated thing,” said Roush.

Looking out for students like Roush is Moore, in his first term as West Virginia state treasurer and guardian of the so-called 529 college savings plan.

“This is a plan that is offered to residents of the State of West Virginia,” Moore explained. “You can deduct all of your contributions off of your income taxes and you’re eligible for a $100 credit as a West Virginia resident.”

Moore was promoting West Virginia tourism in scenic Harpers Ferry rolling into a glorious near-summer weekend. His work with the 529 savings plans caught the attention of some visitors from Hoosier State, Indiana, who applaud Treasurer Moore for promoting the 529 college savings plan.

“It’s a benefit for everybody,” said parent Matt McMichael. “For friends and family. Not just parents but also friends and family and relatives can also do that too.”

Treasurer Moore was not shy about telling the Mountain State visitors from the midwest that their 529 investments entitle students to study here in West Virginia, at schools like Shepherd University.

“We do have a reciprocity agreement in place so something to bear in mind why you probably choose West Virginia,” Treasurer Moore explained.

Treasurer Moore is especially proud that the 529 direct plan is the top-rated in the country. He is also touting an offshoot of the 529 college savings plan, the “Jumpstart” plan through which college savings can be used for a job search or even starting a business.

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