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Direct Portfolio College Savings Plan
The team of Ascensus Broker Dealer Services, Inc. and The Vanguard Group manages the Colorado Direct Portfolio College Savings Plan. It features age-based and static portfolio options utilizing Vanguard mutual funds. 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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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.
CollegeInvest, a division of the Colorado Department of Higher Education
Ascensus Broker Dealer Services, Inc. and The Vanguard Group, Inc.
Vanguard Marketing Corporation
Through December 31, 2024.
U.S. citizens or resident aliens, trusts, 501(c)(3) organizations, and local governments.
Accepts contributions until all account balances in Colorado's 529 plans for the same beneficiary reach $350,000.
The minimum initial contribution is $25, and the minimum subsequent contribution is $15.
The Age-Based option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 4 or 5 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 and 3 individual-fund portfolios.
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 for accounts with less than $10,000, waived for Colorado residents and for accounts opting to receive all documents electronically.
0.39% manager fee; fee includes underlying fund expenses and a 0.06% fee to the state.
CollegeInvest may charge an administrative fee of up to 0.10%. Effective September 1, 2011, 0.04% of the manager fee was waived for a net fee of 0.06%. CollegeInvest will periodically reevaluate the 0.06% administrative fee rate and raise or lower it not to exceed 0.10%.
Not applicable, included in the program management fee.
Taxes and other Benefits
The Matching Grant Program provides a dollar-for-dollar match of up to $400 in contributions for lower- to middle-income Colorado residents to accounts with an eligible beneficiary (a dependent under age 13 at the time of initial application). Applications are accepted each year between September 1 and December 31. The match can extend for a maximum five years. Matching grants for future years are subject to continued funding by the sponsor. The CollegeInvest 529 Scholarship provides a $2,000 scholarship to any full-time student who is a Colorado resident, has maintained or has had a parent/guardian maintain a CollegeInvest account for at least two years, and can substantiate an expected family contribution (EFC) between $5,000 and $25,000. The scholarship is renewable each year up to a total of four years or $8,000. Applications are accepted January 1 through May 15.
Contributions to a Colorado 529 plan, to the extent of the contributor's Colorado taxable income, are deductible in computing Colorado taxable income. Rollover contributions are not eligible for the deduction.
Investment time horizon:
18 yrs (i.e. newborn): 0.20% annualized
10 yrs (i.e. 8-yr old): 0.36% annualized
2 yrs (i.e. 16-yr old): 1.82% annualized
Based on 4.63% CO tax rate. (For assumptions see 529 State Tax Calculator.)
The principal portion of rollovers and nonqualified withdrawals from this plan are included in Colorado taxable income to the extent of prior Colorado tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability or withdrawals made on account of the beneficiary's receipt of a scholarship.
Qualified distributions from Colorado and non-Colorado 529 plans are exempt.
Colorado follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Under Colorado law, moneys credited to or expended from the Colorado savings trust fund by or on behalf of an account owner, depositor, or designated beneficiary of a savings contract are exempt from all claims of creditors of the account owner, depositor, and designated beneficiary.
Distributions & Terminations
Eligible educational institution, beneficiary, or account owner, as directed by the account owner.
Accepts requests to transfer account ownership.
Documents, Access & Reporting
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