The West Virginia SMART529 Prepaid Tuition Plan was terminated on September 30, 2021. West Virginia also offers three 529 savings plans, the SMART529 Direct, SMART529 Select and The Hartford SMART529 plans.
- Program typePrepaid contract
- Enrollment periodClosed to new enrollment.
- Inception1998
- State agencyState Treasurer's Office under the authority of the West Virginia College and Jumpstart Savings Program Board of Trustees
- Tax deduction
- Program ManagerHartford Life Insurance Company
Ratings & Rankings
Our overall rating for WV residents
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
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 filersNo limit
- Tax deduction for joint filersNo 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?
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