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Plan
Summary
American Century manages the Learning Quest 529 Education Savings Program (Direct-sold) for Kansas, featuring three age-based tracks with a mix of American Century, Vanguard and Baird funds, one age-based track with Vanguard index funds, 12 static options, and the Cash and Cash Equivalents Portfolio. Accounts can be linked to the Upromise rewards service.
The Kansas Schwab 529 College Savings Plan is available through discount broker Charles Schwab and managed by American Century. The Plan utilizes a variety of mutual fund families in its age-based and static portfolios with an actively managed or index option. Accounts can be linked to the Upromise rewards service.
Program type
Savings
Savings
How to enroll
Enroll directly with the program.
Enroll through Charles Schwab & Co., Inc. or through independent advisers associated with Schwab.
Initial year of operation
2000
2003
State agency(ies)
Kansas State Treasurer
Kansas State Treasurer
Program manager
American Century Investment Management, Inc.
American Century Investment Management, Inc.
Program distributor
American Century Investment Services, Inc.
Charles Schwab & Co. Inc.
State residency requirements
None
None
Who can be a participant/owner in the program?
U.S. citizens and resident aliens, UGMA/UTMA custodians, and legal entities. Joint ownership is permitted.
U.S. citizens and resident aliens, and UGMA/UTMA custodians. Joint ownership is permitted.
Significant time or age restrictions imposed by the program
None
None
Maximum contributions
Accepts contributions until all account balances in Kansas' 529 plans for the same beneficiary reach $475,000.
Accepts contributions until all account balances in Kansas' 529 plans for the same beneficiary reach $475,000.
Minimum contributions
No minimum
No minimum
Does the program offer an e-gifting platform for receiving gift contributions?
This plan offers a robust gifting platform that allows gift-givers to save their own profile for recurring or future contributions.
This plan offers a robust gifting platform that allows gift-givers to save their own profile for recurring or future contributions.
Age-based/Enrollment Year investment options
The age-based portfolios (non-index) are offered in 3 different risk levels: Aggressive, Moderate, and Conservative. Contributions are placed into the portfolio corresponding to the selected risk level and the beneficiary's age. Over time, accounts move between one or more of the 8 portfolios that make up these tracks. The program also offers an index age-based track that invests primarily in Vanguard index funds. Accounts will move through one or more of 8 age-based portfolios.
The Age-Based option is available as actively managed or index, with 4 different risk levels (Aggressive, Moderately Aggressive, Moderate, and Moderately Conservative) each containing 8 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the selected risk level and the age of the beneficiary or the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
Static investment options
Select among 12 static portfolio options and the Cash and Cash Equivalents portfolio.
Select among 6 multi-fund portfolios and the Money Market Portfolio. The static option is available with actively managed or index funds.
Underlying investments
American Century, Vanguard and Baird mutual funds.
American Beacon, American Century, Baird, JP Morgan, Laudus, Schwab, Metropolitan West Asset Management, Vanguard, TCW Group
Enrollment or application fee
None.
None.
Account maintenance fee
None.
None.
Program management fees
0.20% manager fee (waived for the Cash and Cash Equivalents portfolio)
0.17% manager fee for the actively managed options
Expenses of the underlying investments
Ranges from 0.18% to 0.50% in the age-based portfolios and 0.03% to 0.54% in the static portfolios (portfolio weighted averages). For the eight portfolios used in the index and index age-based track, an all-in fee of 0.25% includes the 0.20% program manager fee.
Ranges from 0.18% - 0.73% (portfolio weighted average)
Total asset-based expense ratio
0.09% - 0.71%
0.38% - 0.93; Index portfolios have all-inclusive fee of 0.25%.
Program match on contributions
The Kansas Investments Developing Scholars (K.I.D.S.) Matching Grant Program was developed for Kansas residents with incomes less than 200% of the federal poverty level. The State of Kansas will match the first $600 that Account Owners contribute to a Learning Quest Advisor account for each beneficiary eligible year of eligibility. Applications are limited to 1200 per year and are processed on a first-come first-served basis. Applications and contributions must be received by December 31 each year.
None.
State tax deduction or credit for contributions
Contributions to Kansas AND non-Kansas state-sponsored 529 plans of up to $3,000 per beneficiary per year by an individual, and up to $6,000 per beneficiary per year by a married couple filing jointly, are deductible in computing Kansas taxable income. Rollover contributions are not deductible. Contribution deadline is December 31.
Contributions to Kansas AND non-Kansas state-sponsored 529 plans of up to $3,000 per beneficiary per year by an individual, and up to $6,000 per beneficiary per year by a married couple filing jointly, are deductible in computing Kansas taxable income. Rollover contributions are not deductible. Contribution deadline is December 31.
State tax recapture provisions
The principal portion of nonqualified withdrawals from this plan are included in Kansas taxable income to the extent of prior Kansas tax deductions. Rollovers are not subject to recapture.
The principal portion of nonqualified withdrawals from this plan are included in Kansas taxable income to the extent of prior Kansas tax deductions. Rollovers are not subject to recapture.
State definition of qualified expenses
The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.
The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.
State tax treatment of qualified distributions
Qualified distributions from Kansas and non-Kansas 529 plans are exempt.
Qualified distributions from Kansas and non-Kansas 529 plans are exempt.
State tax treatment of rollovers
Kansas follows federal tax-free treatment.
Kansas follows federal tax-free treatment.
Does the sponsoring state exclude the value of an account for state financial aid purposes?
No
No
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
No
No
Is there a rewards program or outside scholarship program that works with this 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.
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..
To whom are distributions made payable
Eligible educational institution, beneficiary, or account owner, as directed by the account owner.
Eligible educational institution, beneficiary, or account owner, as directed by the account owner.
Policy regarding participant/owner changes
Accepts requests to transfer account ownership.
Accepts requests to transfer account ownership.
Does participant have online password-protected access to account?
Yes
Yes
Can the complete enrollment process including funding be done online?
Yes
Yes
Telephone
1-800-579-2203
1-866-903-3863