CollegeAdvantage

• Since 1989, the Ohio Tuition Trust Authority has been helping families save for college through Ohio's 529 plan, CollegeAdvantage. 529 plans are tax-advantaged college savings programs offered by states or eligible educational institutions and have quickly become one of the most popular ways to save for college. Ohio was one of the first states to offer a 529 plan.
   
• CollegeAdvantage is offered to families directly through the Ohio Tuition Trust Authority (direct plan), and is also offered through financial advisors (advisor plan). Each plan offers a wide variety of different investment options to appeal to the diverse needs of families saving for college.

• The CollegeAdvantage direct plan is managed by the Ohio Tuition Trust Authority and offers investment options by Vanguard,  PIMCO, OppenheimerFunds, GE Asset Management and Fifth Third Bank. The bank options feature FDIC-insured savings accounts and CDs.
    
• Ohio's 529 plan also offers a plan available exclusively through financial advisors. The BlackRock CollegeAdvantage plan offers a diverse range of quality investment options from different fund managers to help families build a custom college savings strategy.

• Withdrawals from CollegeAdvantage accounts made for qualified higher education expenses are exempt from federal and state income taxes when no other education tax incentive is used.

• CollegeAdvantage is the only 529 plan that allows Ohio residents to deduct their contributions from Ohio taxable income. Up to $2,000 per contributor (or married couple) can be deducted per beneficiary, with unlimited carryforward in future years.  

• Funds can be used at any college in the country to pay for tuition, fees and room and board.  

• The CollegeAdvantage direct plan has paid out $889 million for higher education expenses for 86,371 students (as of 6/30/10).

• Morningstar Inc., a leading provider of independent investment research, named Ohio's CollegeAdvantage 529 direct plan as one of the top five college savings plans in the nation. "The strong investment options, low costs and good flexibility make this plan tough to beat for Ohio residents." (April 2009)

• Savingforcollege.com, a leading authority on 529 plans, rates Ohio's direct-sold CollegeAdvantage 529 Savings Plan as one of the lowest cost and best plans in the country, with a perfect 5 Cap rating for Ohio residents. Savingforcollege.com also gives the CollegeAdvantage advisor plan a 4.5 Cap rating for Ohio residents. 

• Kiplinger, a renown publisher of business forecasts and personal finance advice, sited Ohio's direct plan in May 2010 as “Best for overall investment mix. Ohio's CollegeAdvantage 529 plan offers great choices from Vanguard, PIMCO and GE Asset Management, as well as certificates of deposit from Fifth Third Bank.”

CollegeAdvantage program summary as of 6-30-10