The Student Tuition Assistance and Revenue Trust Program, commonly referred to as the “START Saving Program,” is a college savings plan designed to help families contend with the growing costs of educating their children after high school.
Administered by the Louisiana Office of Student Financial Assistance (LOSFA), under the direction of the Louisiana Tuition Trust Authority (LATTA), the START Program is a Qualified Tuition Program under section 529 of the Internal Revenue Code.
START, a savings account for college, was created to help families contend with the future costs of higher education. Parents, grandparents, and others who want to assist in funding a child’s education can establish an education savings account through the START Saving Program for each child (the account beneficiary). In addition to deposits made by account owners, the state provides a match of 2-14% of annual deposits, called Earnings Enhancements, depending on the income of the account owner. In addition, the START Saving program provides a tax deduction of $2,400 for an individual and $4,800 for married couples filing jointly.
START qualified expenses are limited to tuition, fees, books, supplies, equipment, room/board and expenses for special needs. START K12 qualified expenses are limited to tuition at approved Louisiana schools.