Texas 529 College Savings Plans
Texas 529 College Savings Plan
About: The Texas College Savings plan, managed by NorthStar Financial Services Group, LLC offers two age-based investment options and seven static options using underlying investments managed by Artisan, DFA, Dodge & Cox, Dreyfus, Invesco, T. Rowe Price, TIAA-CREF, and Vanguard.
Phone #: 1-800-445-4723
Investment Options: Contributors can select either the Blended Age-based Portfolios, which offers underlying investments that are both actively and passively managed, or the Index Age-Based Portfolios, which offers passively managed investments. Each option consists of 6 portfolios of underlying investments.
There is also a 4 multi-fund portfolios (two of which use only index funds), 2 individual-fund bond portfolios, and the U.S. Government Money Market Portfolio. The Mutual funds and investment strategies are managed by Artisan, DFA, Dodge & Cox, Dreyfus, Invesco, T. Rowe Price, TIAA-CREF, and Vanguard.
Tax Benefits: State tax deduction or credit for contribution is not applicable because Texas does not have a personal income tax.
State Residency Requirements: No state residency is required to participate in Texas 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.