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National College Savings Program
North Carolina's National College Savings program features Vanguard funds in its age-based and static options, along with a fixed-income option managed by the state treasurer and a federally-insured deposit option through the State Employees Credit Union.
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.
North Carolina State Education Assistance Authority
College Foundation, Inc.
College Foundation, Inc.
Continues until terminated by either the North Carolina State Education Assistance Authority or CFI.
Individuals at least 18 years old, emancipated minors, UGMA/UTMA custodians, and legal entities .
Accepts contributions until all account balances in the NC 529 plan for the same beneficiary reach $420,000.
The minimum initial contribution is $25 and the minimum subsequent contribution is $25.
The Vanguard Age-Based Option offers a choice among 3 different risk levels (Aggressive, Moderate, or Conservative). Contributions are placed into the portfolio corresponding to the selected risk level and number of years to expected enrollment, and later reassigned to more conservative portfolios until the beneficiary reaches age 19.
Select among a fixed-income portfolio (The Dependable Income Fund), five multi-fund portfolios,four individual-fund portfolios, and a federally-insured deposit account through State Employees' Credit Union. An equity-indexed investment, the Protected Stock Fund, was closed to new investments on February 27, 2008. Also, a 100% equity portfolio, the Active Core Equity Fund, was closed January 31, 2011.
The Vanguard Age-Based option offers a choice between Aggressive, Moderate or Conservative Tracks all of which invest in Vanguard mutual funds. The multi-fund and individual options invest in Vanguard mutual funds also. The Dependable Income Fund uses the state treasurer's short-term investment portfolio.
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Click here to visit, link to the program website containing most current performance data. Click a particular option to view performance.
Fees & Expenses
A $1.50/month ($18.00/year) fee is assessed per Account for paper delivery of statements and confirmations. This fee is waived if the Participant elects to receive electronic delivery.
NC Treasurer Dependable Income Fund: Less than 0.05%
Vanguard Age-Based Options: Ranges from 0.11% to 0.16%
Vanguard Individual and Multi-fund Options: 0.09% to 0.17%
Federally-Insured Deposit Account: None
0.25% - 0.42%
Taxes and other Benefits
Qualified distributions from North Carolina and non-North Carolina 529 plans are exempt.
North Carolina follows federal tax-free treatment.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Distributions & Terminations
Participant, designated beneficiary, or copayable to the beneficiary and eligible educational institution, as directed by the participant.
Accepts requests to transfer account ownership.
Documents, Access & Reporting
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