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SMART529 Prepaid Tuition Plan

The West Virginia SMART529 Prepaid Tuition Plan is closed to new enrollment and will terminate on September 30, 2021. West Virginia also offers three 529 savings plans, the SMART529 Direct, SMART529 Select and The Hartford SMART529 plans.

Fee Score

N/A

Performance

N/A
  • Program type
    Prepaid contract
  • Enrollment period
    Closed to new enrollment.
  • Inception
    1998
  • State agency
    State Treasurer's Office under the authority of the West Virginia College Prepaid Tuition and Savings Program Board of Trustees
  • Tax deduction
  • Program Manager
    Hartford Life Insurance Company

Ratings & Rankings

Our overall rating for WV 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

Minimum contributions:

Contractual Features

Contract prices:

Available tuition packages:

Benefits for beneficiary attending private or out-of-state institution:

Contract payment options:

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
    No limit
  • Tax deduction for joint filers
    No limit

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 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?

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Account Changes

Policy regarding participant/owner changes:

Contact

Website:

Telephone:

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See the best 529 plans, personalized for you
See the best 529 plans, personalized for you
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