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DreamAhead College Investment Plan

The DreamAhead College Investment Plan is sponsored and distributed by the Washington Student Achievement Council. Sumday Administration, LLC, a BNY Mellon Company, provides program management, recordkeeping and administrative support services. Investment options include year of enrollment portfolios and static investment portfolios.

Our Ratingx

Fee Scorex

N/A

Performancex

N/A

  • Program typeSavings
  • Inception2018
  • State agency
    Washington Student Achievement Council
  • Tax deduction
    Tax deduction for single filers None
    Tax deduction for joint filers None
  • Program Manager
    Sumday Administration, LLC
  • Program distributor
    Committee on Advanced Tuition Payment and College Savings
  • Manager contract termUNLOCK PRO

Ratings & Rankings

Our overall rating for WA residents

This is a recent program and does not yet have a 5-Cap Rating assigned.

Our overall rating for non-residents

This is a recent program and does not yet have a 5-Cap Rating assigned.

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.

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens of legal age, UGMA/UTMA custodians, and legal entities.

Contributions

Maximum contributions:

Accepts contributions until all account balances in Washington's tuition programs for the same beneficiary reach $500,000.

Minimum contributions:

Initial contribution of $25 per portfolio; $5 per portfolio thereafter

Investment Options

Age-based investment options:

The Year of Enrollment Option is offered in 3 risk levels (Conservative, Moderate, or Growth), each containing 10 portfolios of underlying mutual funds. Year of Enrollment Portfolios are designed to evolve over time to transition from a heavier allocation to underlying funds that invest in equities (stocks) in earlier years to a more conservative underlying funds that invest in fixed income (bonds) and money market instruments (cash preservation) as the beneficiary approaches college age.View more age-based investment options

Static investment options:

Select among seven static investment options.View more static investment options

Underlying investments:

Fidelity, JPMorgan, Schwab, VanguardView a full list of this plan's investment options

Underlying fund allocations:

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Fees & Expenses

Enrollment or application fee:

None

Account maintenance fee:

$35 annually

Program management fees:

0.12% manager fee and a 0.10% administrative fee to the state

Expenses of the underlying investments:

Ranges from 0.064% to 0.135% (portfolio weighted average) in the enrollment based portfolios, and 0.056% to 0.18% in the static portfolios

Total asset-based expense ratio:

0.266% to 0.4%

Taxes and other Benefits

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

Note

Washington doesn't offer tax deductions

Program match on contributions:

None

State tax deduction or credit for contributions:

Not applicable. Washington 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.

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

Want to Boost your Savings?

You could be saving more with gifts from family and friends. CollegeBacker makes it easy to start a 529 plan, and then invite others to contribute for birthday parties, holidays, or even on a monthly basis.

Start saving with family and friends

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:

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Contact

Website:

http://www.dreamahead.wa.gov/

Telephone:

1-844-529-5845