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Learning Quest 529 Education Savings Program (Direct-sold)
American Century manages the Learning Quest 529 Education Savings Program (Direct-sold) for Kansas, featuring three age-based tracks with a mix of American Century, Vanguard and Baird funds, one age-based track with Vanguard index funds, and 12 static options. 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 Learning Quest 529 Education Savings Program (Direct-sold) 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.
Kansas State Treasurer
American Century Investment Management, Inc.
American Century Investment Services, Inc.
Through June 30, 2018.
U.S. citizens and resident aliens, UGMA/UTMA custodians, and legal entities. Joint ownership is permitted.
Accepts contributions until all account balances in Kansas' 529 plans for the same beneficiary reach $365,000.
An account may be opened with a lump-sum contribution or monthly automatic investment minimum of $25.
The age-based portfolios (non-index) are offered in 3 different risk levels: Aggressive, Moderate, and Conservative. Contributions are placed into the portfolio corresponding to the selected risk level and the beneficiary's age. Over time, accounts move between one or more of the 6 portfolios that make up these tracks, eventually ending in the Short-Term portfolio. The program also offers an index age-based track that invests primarily in Vanguard index funds. Accounts will move through one or more of 3 age-based portfolios and eventually end in the Short-Term portfolio.
Select among 12 options: the 100% Equity Portfolio invested in both American Century and Vanguard mutual funds, the Money Market portfolio invested in American Century funds, the 6 multi-fund portfolios used in the non-index age-based tracks, and 4 index-fund based portfolios.
American Century, Vanguard and Baird 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
0.20% manager fee (waived for the Money Market portfolio)
Ranges from 0.21% to 0.68% in the age-based portfolios and 0.03% to 0.72% in the static portfolios (portfolio weighted averages). For the three portfolios used in the index age-based track, an all-in fee of 0.38% includes the 0.20% program manager fee.
0.15% - 0.92%
Taxes and other Benefits
The state will match on a dollar-for-dollar basis contributions above $100 and up to $600 per year by Kansas residents with household incomes below 200% of the federal poverty income level. The program is limited to 300 participants from each of Kansas' four Congressional districts per year. Applications and contributions must be received by December 31 each year.
Contributions to Kansas AND non-Kansas state-sponsored 529 plans of up to $3,000 per beneficiary per year by an individual, and up to $6,000 per beneficiary per year by a married couple filing jointly, are deductible in computing Kansas taxable income. Rollover contributions are not deductible. Contribution deadline is December 31.
At the maximum Kansas tax rate of 4.8% the tax deduction is worth as much as $288 in Kansas tax savings. Because Kansas has made the deduction available to contributions to any state-sponsored plan, this value does not have to be factored in when comparing plans.
The principal portion of nonqualified withdrawals from this plan are included in Kansas taxable income to the extent of prior Kansas tax deductions. Rollovers are not subject to recapture.
Qualified distributions from Kansas and non-Kansas 529 plans are exempt.
Kansas follows federal tax-free treatment.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Under Kansas law, an account in a Kansas 529 plan owned by a Kansas resident for a beneficiary who is a lineal descendant is exempt from creditor claims; protection is limited to $5,000 for amounts contributed between one and two years prior to the date of filing of a bankruptcy petition or execution of judgement for such claims against the account owner, and does not apply at all to amounts contributed within one year of the date of filing/execution.
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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