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Smart Choice College Savings Plan

Colorado's Smart Choice College Savings Plan offers two FDIC-insured options through FirstBank: a one-year time savings account and a money market savings account.

Fee Score

N/A

Performance

3 / 5
  • Program type
    Savings
  • Inception
    2009
  • State agency
    CollegeInvest, a division of the Colorado Department of Higher Education
  • Tax deduction
  • Program Manager
    FirstBank Holding Company
  • Program distributor
    FirstBank through its individually chartered banks.

Eligibility

State residency requirements:

Who can be a participant/owner in the program?

Significant time or age restrictions imposed by the program:

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Plan

Our Rating

Fee Score

Performance

Contributions

Maximum contributions:

Minimum contributions:

Investment Options

Age-based/Enrollment Year investment options:

View more age-based investment options

Static investment options:

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Underlying fund allocations:

Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

Account maintenance fee:

Program management fees:

Expenses of the underlying investments:

Total asset-based expense ratio:

Taxes and other Benefits

  • Tax deduction for single filers
    No limit
  • Tax deduction for joint filers
    No limit

Example

Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.

Program match on contributions:

State tax deduction or credit for contributions:

State tax recapture provisions:

State tax treatment of qualified distributions:

State tax treatment of rollovers:

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

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

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

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Account Changes

Policy regarding participant/owner changes:

Documents, Access & Reporting

Does participant have online password-protected access to account?

Can the complete enrollment process including funding be done online?

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

Contact

Website:

Telephone:

Twitter

http://twitter.com/#!/CollegeInvestCO

Plan News

State News

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