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CollegeAdvantage Guaranteed 529 Savings Plan

CollegeAdvantage Guaranteed 529 Savings Plan is no longer available

Click here to see other Ohio 529 plans.

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.

Fee Score

N/A

Performance

N/A
  • Program type
    Guaranteed savings
  • Enrollment period
    Closed to new enrollment until further action is taken by OTTA.
  • Inception
    1989
  • State agency
    Ohio Tuition Trust Authority, part of the Office of the Chancellor, Ohio Board of Regents
  • Tax deduction

Ratings & Rankings

Our overall rating for OH residents

Not Open

This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.

Our overall rating for non-residents

Not Open

This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.

SAVING FOR COLLEGE’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.

Eligibility

State residency requirements:

Who can be a participant/owner in the program?

Significant time or age restrictions imposed by the program:

Contributions

Maximum contributions:

Minimum contributions:

Contractual Features

Current value of one unit:

Current unit price:

Are program benefits backed by the full faith and credit of the state?

Are program benefits collateralized or guaranteed in any other way?

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Fees & Expenses

Enrollment or application fee:

Taxes and other Benefits

  • Tax deduction for single filers
    $4,000/yr
  • Tax deduction for joint filers
    $4,000/yr

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 definition of qualified expenses

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?

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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?

Contact

Website:

Telephone:

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