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University of Alaska College Savings Plan

Alaska

The University of Alaska College Savings Plan is a direct-sold 529 savings plan. The Program features both enrollment-based and static portfolios, along with an additional portfolio called the ACT Portfolio providing special benefits to future University of Alaska students along with a very low expense ratio. Alaska residency is not required to participate in this T. Rowe Price-managed program.

5-Cap Rating

Resident:
Non-Resident:

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)

Performance Costs Features Reliability Resident Upgrade
4.47 3.47 3.20 4.80 0.50

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General

Program type:

Savings

How to enroll:

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Initial year of operation:

1991

State agency(ies):

Education Trust of Alaska

Program manager:

T. Rowe Price Associates, Inc.

Program distributor:

T. Rowe Price Investment Services, Inc.

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. resident individuals of legal age, UGMA/UTMA custodians, and legal entities organized in the U.S.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Alaska's 529 plans for the same beneficiary reach $400,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250, and the minimum subsequent contribution is $50. With the automatic investment plan, the minimum contribution level is $50 per portfolio per month.

Investment Options

Age-based investment options:

The Enrollment-Based Portfolios contain 8 portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. 7 portfolios shift to a more conservative investment allocation over time, eventually transferring to the College portfolio.

Static investment options:

Select among 3 multi-fund portfolios (Equity Portfolio, Balanced Portfolio, and ACT Portfolio), the Total Equity Market Index Portfolio, the Fixed-Income Portfolio (a fund-of-funds), and the Money Market Portfolio. The ACT Portfolio is guaranteed by the University of Alaska to provide a minimum return equal to tuition increases at the University of Alaska, but only for beneficiaries enrolling at that institution.

Underlying investments:

T. Rowe Price mutual funds.

Underlying fund allocations:

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Investment performance link:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

$10 annually for accounts with less than $25,000, fee is prorated across all accounts for the same account owner and beneficiary if the total balance of all accounts is less than $25,000. The fee is waived for investments in the ACT portfolio and with automatic bank account investments or payroll deductions or if the total balance of all accounts owned by the same account owner, regardless of the beneficiary, is at least $75,000.

Program management fees:

0.20% manager fee, including 0.04-0.06% fee to the state. Fee waived for the ACT Portfolio.

0.01% for Money Market portfolio (all or a portion of the program management fee may be waived to maintain a net yield of at least 0.00%)

Expenses of the underlying investments:

Ranges from 0.50% to 0.68% in the age-based portfolios and 0.39% to 0.68% in the static portfolios and 0.23% in the money market portfolio(portfolio weighted averages).

Total asset-based expense ratio:

0.24% - 0.88%

Taxes and other Benefits

Program match on contributions:

None, however the state offers a tuition-value guarantee for University of Alaska students invested in the ACT Portfolio.

State tax deduction or credit for contributions:

Not applicable. Alaska does not have a personal income tax.

State tax treatment of qualified distributions:

Not applicable. Alaska does not have a personal income tax.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

No

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

Yes, a beneficiary receiving a qualified distribution from an account to pay tuition at the University of Alaska may be eligible for a waiver of the nonresident tuition surcharge

Does the program have a formal agreement with a rewards program or outside scholarship program?

No

Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Beneficiary and an eligible educational institution jointly, beneficiary, estate of the beneficiary, or account owner, as directed by the account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

Yes

Documents and other services accessible or downloadable on the program's public Web site:

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Contact

Web site:

visit Enroll Now

Telephone:

1-866-277-1005

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