There are several ways one can get more information or sign up for the CollegeChoice plan. If a family has a financial advisor, they can talk with them about the 529 fund or if they invest on their own, www.collegechoice.com on the Web can sign a family up. On the site, there are tools to help pick the right plan for a family.

On the site, one can start saving with as little as $25. Another feature Mourdock said was exciting was the UGift feature, where parents, grandparents, friends and other family members can give to a child’s college savings fund from their computer.

“You can send an e-mail to the child’s parents, aunts and uncles, and you can say instead of giving them a toy, how about contributing to their college savings program?” Mourdock said. “They can just click on the link that takes them to the forms and if they are Hoosiers, they too get a 20 percent credit on their income taxes.”

Federally, through the Internal Revenue Service, the interest collected on 529 plans is not subject to federal income taxes when the money is used. Starting last year, up to $1,000, or 20 percent, in the 529 plan will not pay state income taxes.