Referral Program Q & A

CollegeAdvantage Refer a Friend Program Rules:  

1. The CollegeAdvantage Refer a Friend program is available to new and existing Account Owners with a CollegeAdvantage direct account. Account Owners with a CollegeAdvantage advisor account are not eligible for the referral program.

2. The Refer a Friend program ends June 30, 2010; however the Ohio Tuition Trust Authority (Tuition Trust) reserves the right to stop the program at any time, for any reason, including availability of funds for the program. The program may, or may not, be offered again in the future.

3. A valid referral code must be entered at the time the account is opened in order to be eligible for the referral bonus. The referral code will be the CollegeAdvantage account number the current Account Owner designates when referring prospect names to CollegeAdvantage, and will be provided to the referred person as the referral code. All account numbers are completely secure and are unique to the CollegeAdvantage program. By participating in the Refer a Friend Program, the Account Owner is granting permission for the use of the account number as the referral code. If all criteria is met, the existing Account Owner will receive a $50 referral bonus applied to his or her account. The new Account Owner will receive a $25 referral bonus applied to his or her account.

4. Any referral bonus will be invested in a CollegeAdvantage investment option and will not be paid out in cash. For Account Owners who referred the new account, the $50 referral bonus will be invested in the CollegeAdvantage investment option with the largest balance, excluding the Guaranteed Savings Fund and Fifth Third 529 Certificates of Deposit (CDs). If the account only has the Guaranteed Savings Fund option, the referral bonus will be invested in the Vanguard Money Market Option. If the account only has Fifth Third CDs, the referral bonus will be invested in the Fifth Third 529 Savings Account option. For new accounts that were referred, the $25 referral bonus will be applied to the investment option with the largest balance, or to the first option entered on the application (excluding Fifth Third CDs). If a Fifth Third CD was the only option selected, the referral bonus will be invested in the Fifth Third 529 Savings Account option.

5. The recipient of the referral bonus (Account Owner) is responsible for any federal, state, or local income taxes resulting from the CollegeAdvantage Refer a Friend program. The Tuition Trust will send the Account Owner a 1099 tax form for bonuses totaling $600 or more.

6. CollegeAdvantage accounts with a zero dollar balance are not eligible to receive a referral bonus.

7. A minimum opening balance of $25 is required to establish a CollegeAdvantage direct account. The referral bonus may not be used to fund the initial contribution.

8. A new account with a valid referral code provided in the application must be established by June 30, 2010 in order for both the referring Account Owner and the new Account Owner to be eligible for the referral bonus. The new account must be opened in good order. To qualify as an account opened in good order, all required account information must be provided, an initial contribution of $25 made and the initial contribution must have cleared. Once the new account has been properly established, a referral bonus will be posted to both respective CollegeAdvantage accounts. This may take 7 to 10 business days. Both Account Owners (existing and new) will then be sent a confirmation notice by mail indicating that a referral bonus has been applied to their designated accounts.

9. The Tuition Trust reserves the right to disqualify any referrals, including where the Tuition Trust reasonably believes the referrals were not sent in good faith.

10. Board members and employees of the Ohio Tuition Trust Authority are not eligible to participate in the Refer a Friend program.