CollegeAdvantage is a 529 college savings program that enables families to save and invest on a tax-advantaged basis to fund future higher education expenses of a child or other beneficiary. Parents, grandparents, family or friends can establish a CollegeAdvantage account. CollegeAdvantage is sponsored and administered by the Ohio Tuition Trust Authority, a state of Ohio agency. CollegeAdvantage was created in 1989 by the Ohio legislature under Chapter 3334 of the Ohio Revised Code.

CollegeAdvantage funds can be used at any college in the country to pay for tuition, room and board, or books. Earnings in CollegeAdvantage are tax-free if used for higher education expenses, and Ohio residents who contribute to a CollegeAdvantage account can deduct up to $2,000 annually from their Ohio taxable income.

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 two plans available exclusively through financial advisors. The BlackRock CollegeAdvantage plan and Putnam CollegeAdvantage both offer a diverse range of quality investment options from different fund managers to help families build a custom college savings strategy.

Individuals can contribute as little as $25 at a time and contributions can be made through automatic recurring debits from a bank account; through payroll deduction; one-time online contributions or by check with contribution slips.

Account owners pay no enrollment fees, no maintenance fees and low administrative fees. Funds can be transferred among family members and withdrawn at anytime.