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CollegeAdvantage Guaranteed 529 Savings Plan
Ohio CollegeAdvantage Guaranteed Savings Fund, a prepaid/guaranteed savings program was closed to new enrollments and contributions in 2004. Ohio also offers the Ohio CollegeAdvantage Direct 529 Savings Plan and the BlackRock CollegeAdvantage Advisor 529 Plan.
- Program typeGuaranteed savings
- Enrollment periodClosed to new enrollment until further action is taken by OTTA.
- State agencyOhio Tuition Trust Authority, part of the Office of the Chancellor, Ohio Board of Regents
- Tax deduction
Ratings & Rankings
Our overall rating for non-residents
This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.
State residency requirements:Either the beneficiary or the account owner must be a resident of Ohio at the time of program enrollment.
Who can be a participant/owner in the program?Individuals at least 18 years old and emancipated minors.
Significant time or age restrictions imposed by the program:The redemption value for any units withdrawn, reallocated or rolled over to another 529 plan prior to age 18 will be actuarially calculated. Beneficiary changes are not allowed once the beneficiary reaches age 22, and are subject to restrictions prior to reaching age 22. Remaining tuition units must be withdrawn when the beneficiary reaches age 28 unless the beneficiary is still attending college.
Maximum contributions:Contributions suspended until further action taken by OTTA.
Minimum contributions:Currently not accepting contributions.
Current value of one unit:As of July 31, 2018:
Tuition Units: $105.80
Tuition Credits: $121.67 (only offered through end of 1995
Current unit price:Not accepting new contributions.
Are program benefits backed by the full faith and credit of the state?UNLOCK PRO
Are program benefits collateralized or guaranteed in any other way?No
Fees & Expenses
Enrollment or application fee:None.
Taxes and other Benefits
- Tax deduction for single filers$4,000/yr
- Tax deduction for joint filers$4,000/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.