General InformationDownload PDF Report

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University of Alaska College Savings Plan

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.


  • Program typeSavings
  • Inception1991
  • State agencyEducation Trust of Alaska
  • Tax deduction
    Tax deduction for single filers None
    Tax deduction for joint filers None
  • Program Manager
    T. Rowe Price Associates, Inc.
  • Program distributor
    T. Rowe Price Investment Services, Inc.
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for AK residents

This is a program that offers outstanding flexibility, attractive investments, and additional economic benefits (such as generous state tax incentives) that for some people, at least, will provide a substantial boost to their savings. There are few, if any, weaknesses noted in the program.

Our overall rating for non-residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

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.


4.17out of 5
top-ten

Each plan's performance score is developed directly from Savingforcollege.com's Quarterly 529 Performance Rankings. A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating. For those plans that are not part of our quarterly performance rankings, such as plans offering a single set of bank-based investment options, we assign a performance score by evaluating the returns currently available on similar types of investments outside of 529 plans.

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.

University of Alaska College Savings Plan logo

Contributions

Maximum contributions:

Accepts contributions until all account balances in Alaska's 529 plans for the same beneficiary reach $475,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250, and the minimum subsequent contribution is $25. With the automatic investment plan, the minimum contribution level is $25 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.View more age-based investment options

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.View more static investment options

Underlying investments:

T. Rowe Price mutual funds.View a full list of this plan's investment options

Underlying fund allocations:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None

Program management fees:

0.05% Trust Fee; waived for the ACT Portfolio.

Expenses of the underlying investments:

Ranges from 0.44% to 0.65% in the age-based portfolios and 0.28% to 0.65% in the static portfolios; 0.38% in the money market portfolio (portfolio weighted averages).

Total asset-based expense ratio:

0.28% - 0.70%

Taxes and other Benefits

  • Tax deduction for single filersNone
  • Tax deduction for joint filersNone

Note

Alaska doesn't offer tax deductions

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 definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, as well as up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school.

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?

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.

Statutory protection of an account from creditors:

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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.

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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

Telephone:

1-866-277-1005

Twitter

Alaska529

Facebook

https://www.facebook.com/ak529/

State News

Start saving for your child's future today


Step 1

Click the blue Enroll Now button to the right

Step 2

Complete the online application and make your first deposit

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