Ohio 529 College Savings Plan – CollegeAdvantage Helps Parents
Ohio 529 College Savings Plan – CollegeAdvantage
About: The Ohio Tuition Trust Authority sponsors and administers CollegeAdvantage, the Ohio 529 college savings program. CollegeAdvantage 529 is available to families in Ohio and throughout the country as a tax-advantaged way to save for the future college expenses of their loved ones. We offer two mutual-fund based plans: the CollegeAdvantage Direct 529 Savings Plan and the CollegeAdvantage Advisor 529 Saving Plan powered by BlackRock.
Phone #: 1-800-233-6734
Investment Options: The investment menu in the Ohio CollegeAdvantage 529 Savings Plan features a set of 3 age-based and 16 static investment options using Vanguard funds, a set of age-based options using Vanguard and DFA funds, 2 DFA static investment options, and 2 types of FDIC-insured deposit accounts through Fifth-Third Bank.
Tax Benefits: Contributions, including rollover contributions, to a Ohio 529 plan of up to $2,000 per beneficiary per year (any filing status) are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions.
State Residency Requirements: No state residency is required to participate in Ohio 529 College Savings Plans.
Saving for College with Upromise
Upromise is a service that helps individuals save money to pay for college or to pay down existing student loan debt.
Upromise is a great way to save through partnerships with retailers. Similar to a cash back rewards card, this plan puts rewards from retailers into an account that you can use to save money for school or paying down current Sallie Mae serviced student loans.
Once you join Upromise, you simply have to shop at eligible retailers. You can shop online and get anywhere from 1$ to 25% back that is credited to your account. There are more than 600 online retailers, including Target and more, which will give you rewards that can be used for college and tuition expenses.
The beauty of the Upromise program is that you save money for college by simply shopping at the normal stores you visit every day. Upromise was created in partnership with Sallie Mae and is designed to help save for education costs.