Since 1989, the Ohio Tuition Trust Authority, a state agency within the office of the Chancellor of the Ohio Board of Regents, has been helping Ohio families save for a college education. Ohio was one of the first states to offer a Section 529 qualified tuition program. 529 plans are tax-advantaged college savings programs offered by states or eligible educational institutions and have fast become one of the most popular ways to save for college.
The Tuition Trust offers and administers Ohio's CollegeAdvantage 529 Savings Plan. CollegeAdvantage is offered directly through the Tuition Trust (direct plan) and is also offered through financial professionals (advisor plan). Both plans offer a wide variety of investment options in order to appeal to the diverse needs of families saving for college. There are options for risk-averse savers seeking to minimize risk and preserve principal, and options for experienced investors seeking to maximize returns by investing in domestic and international equities.
The CollegeAdvantage direct plan offers investment options from leading fund managers such as The Vanguard Group, PIMCO, OppenheimerFunds, GE Asset Management and Fifth Third Bank, which offers FDIC-insured savings account and CD options. Mutual fund-based Investment options include age-based options that allocate your investment based on the age of your child and your risk profile, balanced multi-fund options, individual fixed-income (bond) and equity (stock) options. Bank options include traditional savings accounts and CDs.
The CollegeAdvantage advisor plan is managed by BlackRock, and is available only through financial advisors. BlackRock CollegeAdvantage offers investment choices from BlackRock, Rainier, Wells Fargo and ING Funds.