The Connecticut Higher Education Trust Competition has awarded six schools a $500 prize for having the highest percentage of student submissions for the 2019 CHET Dream Big! competition.
The winners included Sarah Noble Intermediate School in New Milford and Gainfield Elementary School in Southbury.
The State of Connecticut offers CHET to help families save for future college costs. Funds deposited into a CHET account have tax advantages and can be used at accredited colleges and universities across the country, including vocational and technical schools, and some colleges abroad.
Connecticut residents are allowed to deduct 529 contributions from their state income taxes - up to $5,000 for an individual or up to $10,000 for a married couple filing jointly. Investment earnings are exempt from state and federal taxes if used for qualified educational expenses.