General InformationDownload PDF Report
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.
- Program typeSavings
- State agencyWashington Student Achievement Council
- Tax deductionTax deduction for single filers NoneTax deduction for joint filers None
- Program ManagerSumday Administration, LLC
- Program distributorCommittee on Advanced Tuition Payment and College Savings
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is a recent program and does not yet have a 5-Cap Rating assigned.
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.
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
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:UNLOCK PRO
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
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 expensesThe 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.
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