General InformationDownload PDF Report

Ohio’s 529 Plan, CollegeAdvantage logo

Ohio’s 529 Plan, CollegeAdvantage

The investment menu in Ohio's 529 Plan, CollegeAdvantage features 3 age-based options and 5 risk-based options using Vanguard funds, a college enrollment-based option and 13 static investment options using Vanguard and DFA funds, and 2 types of FDIC-insured deposit accounts through Fifth Third Bank. Accounts can be linked to the Upromise rewards service.

Our Ratingx

5 of 5

Fee Scorex

4.5 of 5

Performancex

5 of 5

  • Program typeSavings
  • Inception2000
  • State agency
    Ohio Tuition Trust Authority, an office within the Ohio Department of Higher Education
  • Tax deduction
    Tax deduction for single filers $4,000/yr
    Tax deduction for joint filers $4,000/yr
  • Program Manager
    Ohio Tuition Trust Authority
  • Program distributor
    Ohio Tuition Trust Authority
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for OH 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 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.

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.


4.21of 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. citizens and resident aliens, UGMA/UTMA custodians, trusts, and 501(c)(3) organizations.

Significant time or age restrictions imposed by the program:

None

Did you know?

  • OH residents can claim a tax deduction for contributions to a OH 529 plan.

    Contributions are deductible in computing state taxable income

  • 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.

Ohio’s 529 Plan, CollegeAdvantage logo

Contributions

Maximum contributions:

Accepts contributions until all 529 account balances in Ohio's 529 plans for the same beneficiary reach $462,000.

Minimum contributions:

$25 ($500 for the Fifth Third CD option).

Investment Options

Age-based investment options:

2 separate age-based options are offered. The Vanguard Age-Based Option offers a choice among 3 different risk levels (Aggressive, Moderate, and Conservative). Contributions are placed into one of 9 mutual-fund portfolios corresponding to the selected risk level and age of the beneficiary, and reassigned to more conservative portfolios as the beneficiary approaches college age. The Advantage Age-Based Option invests in 10 enrollment-based portfolios invested in funds from Vanguard and DFA.View more age-based investment options

Static investment options:

The Vanguard investment options consist of 5 multi-fund portfolios and 11 individual-fund portfolios. The Fifth Third Bank options consist of certificates of deposit and a savings account. The remaining options include an equity fund and a bond fund from DFA.View more static investment options

Underlying investments:

Vanguard and DFA mutual funds; certificates of deposit and savings accounts from Fifth Third Bank.View a full list of this plan's investment options

Underlying fund allocations:

UNLOCK PRO

Portfolio Fees & Performance Lookup

UNLOCK PRO

Contractual Features

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

No

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

None.

Program management fees:

0.14% manager fee plus 0.02% fee to the state.

Fifth Third options: No fees.

Expenses of the underlying investments:

Age-based and static portfolios: 0.0356% to 0.17%
Individual fund portfolios: 0.02% to 0.38%
Fifth Third options: None

Total asset-based expense ratio:

0.18% - 0.54%. None for Fifth Third options.

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:

None.

State tax deduction or credit for contributions:

Contributions, including rollover contributions, to a Ohio 529 plan of up to $4,000 per beneficiary per year (any filing status) are deductible in computing Ohio taxable income, with an unlimited carryforward of excess contributions. Contribution deadline is December 30.

State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Ohio taxable income to the extent of prior Ohio tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability, withdrawals made on account of the beneficiary's receipt of a scholarship. Offering materials indicate that distributions subsequently rolled over to another 529 plan are subject to Ohio tax recapture; whether or not "trustee to trustee" rollovers are subject to recapture appears unclear.

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:

Qualified distributions from Ohio and non-Ohio 529 plans are exempt. Ohio also exempts distributions from a Ohio 529 plan attributable to the beneficiary's death, disability, or receipt of a scholarship.

State tax treatment of rollovers:

Ohio follows federal tax-free treatment except that outbound rollovers appear subject to the recapture of prior state tax deductions.

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?

No

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.

Upromise Helps Families Save for College

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

UNLOCK PRO

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.

Ohio’s 529 Plan, CollegeAdvantage logo

Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution, 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:

UNLOCK PRO

Contact

Telephone:

1-800-233-6734

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

Ohio’s 529 Plan, CollegeAdvantage logo