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The Plan That Can
Cut Your Taxes Now And Make A Real Difference Later.

Animated bar chart that demonstrates that saving in an everyday savings account is projected to cover 32% of 4 year, in state tuition and fees, compared to Ohio�s 529 which is projected to cover 54%. Animated bar chart that demonstrates that saving in an everyday savings account is projected to cover 32% of 4 year, in state tuition and fees, compared to Ohio�s 529 which is projected to cover 54%.

In 17 years, tuition and fees might cost $115k.

We plugged a monthly savings of $150 into our College Savings Planner for 17 years. Then we compared the same money saved in an everyday, taxable bank* account. Remember, this is only a projection and your results could be lower or higher, much like the mutual funds in your 401(k) Plan.

*Saving $150/mo for 17 years; bank projection calculated using calcxml.com at national avg interest rate of .09%; 529 Plan projection calculated using the College Savings Planner; actual results could be lower or higher.

To claim the Ohio Tax Deduction for 2020, contributions to Ohio's 529 must be received before 4 p.m. ET, Thursday, December 31, 2020.

A state tax deduction of up to $4,000 per child, per year, is available to qualified Ohio taxpayers who contribute to Ohio's 529 Plan, whether you own the account or are making a gift to someone else's account. (If you are making a gift to an Ohio 529 through Ugift, that contribution must be received in good order before 4:00 p.m. ET on Monday, December 21, 2020.)

What if I don't want to take any risk at all?

Ohio's 529 Plan offers a tax-free, FDIC-insured savings account and CDs from Fifth Third Bank. Some people save exclusively in these. Some move money into these as college nears or while their student is in college. And some use them for K-12 private school tuition. The choice is always yours.

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Use Ohio's 529 Plan at whatever school comes after high school.

Traditional four year colleges. Community colleges. Trade and specialty schools. Certificate programs. Apprenticeships. Graduate schools. While there are many paths forward for your kids, one thing is certain: Ohio's tax-free 529 Plan is the simple way to be ready to help. Your savings grow tax-free and stay tax-free when used for qualified higher education expenses. And Ohio's 529 Plan can be used at thousands of schools, nationwide.

How much to save?

Here's a good go-by for various types of programs covering all of in-state tuition and fees. Assumptions: 13 years to save, trend of higher education cost increases continues, investment growth of 6% per year. Results are not guaranteed and could be higher or lower.

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