Wednesday, April 28, 2010

CollegeAdvantage – For Ohio Residents

CollegeAdvantage, Ohio’s 529 college savings plan is offered and administered by the Ohio Tuition Trust Authority, a state agency since 1989. CollegeAdvantage has many benefits that make saving for college easy and affordable:
•Earnings are tax-free.

•Deduct contributions from Ohio taxable income ($2,000 annually).

•Use your funds at any college in the country.

•Pay for tuition, room and board, or books.

•Contribute as little as $25 at a time.

•Benefit from professional money management by leading financial firms.

•Save with FDIC-insured bank products.

•Pay no enrollment fee, no maintenance fee and low administrative fees.

•Transfer funds to another child.

•Withdraw funds at any time.

•Change investment options.

We have personally used CollegeAdvantage for over 4 years now and it is so easy to start saving for your children’s college education. I personally consider a college education a necessity not only for this generation but for our children to have a secure future.

Morningstar rates Ohio's 529 plan as "Top 5" college savings plan in the nation

Morningstar Inc., a leading provider of independent investment research, has named Ohio’s CollegeAdvantage 529 direct plan as one of the top five college savings plans in the nation in a report that was released April 23, 2009. In reviewing the Ohio direct plan Morningstar stated that “the strong investment options, low costs, and good flexibility make this plan tough to beat for Ohio residents.” In rating each state’s 529 plan, Morningstar focused on features such as fees, investment quality, asset allocation and flexibility. The Morningstar report can be viewed online by visiting

Morningstar also prefers Ohio’s innovative plan structure, stating “the Ohio Tuition Trust Authority not only created the plan, but it also manages it directly. This setup is rare in the 529 universe and it gives OTTA more freedom to choose from a variety of mutual fund families, such as Vanguard, PIMCO, GE Asset Management and Fifth Third Bank (for CD options.)”

CollegeAdvantage is offering a “Spring Refer a Friend Program” where you can earn $50 for your account for each enrollment until June 30, 2010. For a limited time, CollegeAdvantage is once again offering the popular Refer a Friend Program. You can earn a $50 referral bonus each time your friends and family open a CollegeAdvantage account. To encourage your friends and family to get started saving for college, they will also earn a $25 referral bonus just for opening the account. But don’t wait; this offer is for a limited time only. Friends and family must open an account by June 30, 2010 in order for both of you to receive the referral bonus. The referral bonus will be applied directly to your designated CollegeAdvantage account. If you are interested in opening an account, send me an e-mail at and I will forward a referral to you.

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