Facebook Pixel
Quick links
LoginGet started
529 Plans
College Savings 101
Student Loans
For Professionals
Pro Dashboard

T. Rowe Price College Savings Plan

4.5 / 5

Our rating

Good AK resident benefits

AK resident benefits

Enroll Now
Enroll Now Count160,538 clicked
Education

What stands out about this plan

  • Offers investors a consistent, long-term track record of higher than average investment returns
  • Received "Top of the Class" ratings for overall excellence from Saving For College
  • The industry-leading ReadySave 529 mobile app lets you keep tabs on your plan and easily manage it
T. Rowe Price College Savings PlanTop of the Class

KEY METRICS

DESCRIPTION

T. Rowe Price College Savings Plan is a direct-sold plan that offers eight enrollment-based portfolios and six static portfolios. The investment portfolios offered by the plan utilize T. Rowe Price mutual funds. Plan participation is open to residents of any state.

OVERVIEW

Program type

Savings

Inception

2001

State agency

Education Trust of Alaska

Tax deduction

For single filers: None

For joint filers: None

Program manager

T. Rowe Price Associates, Inc.

Program distributor

T. Rowe Price Investment Services, Inc.

Manager contract term

MORE INFORMATION

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

Did you know?

  • 529 plan contributions grow tax-free.

    Withdrawals are tax-free when used to pay for qualified higher education expenses.

  • You can contribute as much as you want, as often as you want.

    The key is to get started. Enroll today by completing a quick form online.

T. Rowe Price College Savings Plan
Enroll Now
Enroll Now Count160,538 clicked

Contributions

Maximum contributions:

The maximum account balance for a beneficiary across all portfolios and accounts is $550,000.

Minimum contributions:

None

Does the program offer an e-gifting platform for receiving gift contributions?

This plan offers the Ugift gifting portal, an online tool that allows your family and friends to contribute to your child's college savings plan in lieu of traditional gifts for celebrations like graduations, holidays, and birthdays.

Investment Options

Investors in T. Rowe Price College Savings Plan can select from the following investment options. Click on a portfolio name for more information.

The Enrollment-Based Portfolios contain 8 portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. These portfolios' investments are aligned with a projected enrollment year and automatically shift as your target date approaches. 7 portfolios shift to a more conservative investment allocation over time, eventually transferring to the Portfolio for Education Today portfolio.
PortfolioE.R. % Equity1yr performance
Portfolio 20390.64%98.75%6.37%
Portfolio 20420.64%100%6.23%
Portfolio 20450.64%100%N/A
Portfolio for Education Today0.36%20%6.21%
Portfolio 20270.47%35.75%6.18%
Portfolio 20300.57%52.5%6.12%
Portfolio 20330.6%68.25%6.2%
Portfolio 20360.62%83.75%6.3%

Age-based/Enrollment Year investment options:

The Enrollment-Based Portfolios contain 8 portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. These portfolios' investments are aligned with a projected enrollment year and automatically shift as your target date approaches. 7 portfolios shift to a more conservative investment allocation over time, eventually transferring to the Portfolio for Education Today portfolio.

Static investment options:

Select among six Static Portfolio options. Unlike Enrollment-Based Portfolios, Static Portfolios do not change their investment mix over time.

Underlying investments:

T. Rowe Price mutual funds.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None

Program management fees:

0.05% Program Fee except 0.02% on enrollment portfolios; plus 0.04% Trust Fee

Expenses of the underlying investments:

Ranges from 0.30% to 0.58% in the year of enrollment portfolios and 0.07% to 0.78% in the static portfolios; 0.23% in the money market portfolio (portfolio weighted averages).

Total asset-based expense ratio:

0.16% - 0.87%

Taxes and other Benefits

Tax deduction for single filers:

None

Tax deduction for joint filers:

None

Note:

Alaska doesn't offer tax deductions

Program match on contributions:

None.

State tax deduction or credit for contributions:

529 contributions are not deductible from federal taxes; state income tax treatment varies. For residents of one of the following states, contributions to the T. Rowe Price College Savings Plan may be deductible from state income taxes: Arizona, Arkansas, Kansas, Maine, Minnesota, Missouri, Montana, Ohio and Pennsylvania. This list is subject to change. Check with your state or with a tax professional for additional details and to determine what documentation, if any, is required when filing.

State tax recapture provisions:

N/A

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense.

State tax treatment of qualified distributions:

Distributions used to pay for qualified education expenses are generally exempt from taxes. If a distribution is nonqualified, any earnings portion of the distribution may be subject to federal income taxes as well as a 10% federal tax penalty. The distribution may also be subject to state income tax laws as applicable.

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, participants in the plan with an active account in any portfolio for the two years immediately preceding enrollment may be eligible to receive resident tuition rates for the University of Alaska regardless of their state residency.

Is there a rewards program or outside scholarship program that works with this program?

Yes, the Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

Did you know?

  • Residents are not limited to investing in their own state's 529 plan.

    Another state may offer a plan that performs better and has lower fees.

  • The 529 plan chosen does not affect which state the student enrolls in.

    You can live in New York, open a plan from Nevada and send a student to college in Florida.

  • The best way to maximize your college savings?

    Start early and save often. You can get started today with easy online enrollment.

T. Rowe Price College Savings Plan
Enroll Now
Enroll Now Count160,538 clicked

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:

Contact

Website:

https://www.troweprice529.com/home.html

Telephone:

(866) 521-1894

Start saving for your child's future today

Complete the online application and make your first deposit

T. Rowe Price College Savings Plan
Enroll Now
Enroll Now Count160,538 clicked

A good place to start:

See the best 529 plans, personalized for you

Enroll Now
Enroll Now Count160,538 clicked
Helping families save for college since 1999
Key Resources
Our Company
Join our email list

The latest articles and tips to help parents stay on track with saving and paying for college, delivered to your inbox every week.

Frequently featured in:

Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.

20533 Biscayne Blvd Ste 4 #199 Miami, FL 33180-1501Phone: (585) 286-5426Copyright © 2025 Saving for College, LLC. All Rights Reserved