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Idaho College Savings Program (IDeal)
The Idaho College Savings Program (IDeal) is managed by Ascensus College Savings and offers 10 investment options: three age-based options, six fixed portfolios using Vanguard mutual funds, and a Savings Portfolio invested in the Sallie Mae High-Yield Savings Account. Accounts can be linked to the Upromise rewards service.
Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)
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Access enrollment materials and open an account with Idaho College Savings Program (IDeal) in just a few easy steps.Enroll Now
Did you know?
Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors ... shop around!
Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.
2001, but substantially changed in December 2007
Idaho College Savings Program Board
Ascensus College Savings
Ascensus College Savings
Through December 11, 2022.
U.S. citizens and resident aliens at least 18 years old, UGMA/UTMA custodians, and legal entities.
Accepts contributions until all account balances in Idaho's 529 plan for the same beneficiary reach $350,000.
$25, or $15 per pay period via payroll deduction.
The Age-Based option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 8 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
Select among 5 multi-fund portfolios, with varying risk tolerances, an interest accumulation portfolio and a savings portfolio.
Vanguard mutual funds.
Click here, you need Microsoft Excel to open this document.
Click here to visit, link to the program website containing most current performance data.
Fees & Expenses
$20 annually unless either the account owner or beneficiary is a resident of Idaho.
0.51% program manager fee; 0.34% for Savings Portfolio; fee includes underlying fund expenses and the 0.05% administrative fee to the state
Not applicable, included in the program manager fee.
0.51%; 0.34% for the Savings Portfolio
Taxes and other Benefits
Contributions to the Idaho 529 plan of up to $4,000 per year by an individual, and up to $8,000 per year by a married couple filing jointly, are deductible in computing Idaho taxable income.
Investment time horizon:
18 yrs (i.e. newborn): 0.32% annualized
10 yrs (i.e. 8-yr old): 0.57% annualized
2 yrs (i.e. 16-yr old): 2.90% annualized
Based on 7.4% ID tax rate. (For assumptions see 529 State Tax Calculator.)
The entire amount of non-qualified distributions must be included in Idaho taxable income. Outbound rollovers by Idaho taxpayers must be included in Idaho taxable income to the extent of amounts deducted on the Idaho return for the current year and for the prior year, effective January 1, 2008.
Qualified distributions from Idaho and non-Idaho 529 plans are exempt.
Outbound rollovers by Idaho taxpayers must be included in Idaho taxable income to the extent of contributions made during the 12 months prior to the rollover, effective January 1, 2008.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Under Idaho law, any rights accruing on account of money paid into the Idaho 529 plan are exempt from execution, attachment, garnishment, seizure, or other levy by or under any legal process, with exceptions for certain child support claims and other court orders.
Distributions & Terminations
Eligible educational institution, beneficiary, or account owner, as directed by the account owner.
Accepts requests to transfer account ownership.
Documents, Access & Reporting
Contactvisit Enroll Now
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