Ohio prepaid plan closes to new enrollments
The Guaranteed Option of the CollegeAdvantage 529 plan closed its doors to new enrollments on October 8, 2003. The prepaid plan took the step after reviewing its financial prospects, anticipating 10% tuition increases in the future against only 7% investment returns. Current participants can contribute the annual maximum through December 2003, and promised benefits are backed by the full faith and credit of the state of Ohio. The program board will review the situation in December 2004 and decide whether to reopen at that time.
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