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Compare 529 Plans
Summary
Virginia's CollegeAmerica is a nationally-available, advisor-sold 529 plan that makes available a line-up of target date fund portfolios, objective based multi-fund portfolios and individual mutual funds from American Funds through Class 529-A, 529-C, 529-E, 529-F-1, 529-F-2 and 529-F-3 shares
Pennsylvania's 529 Investment Plan is available to residents of any state, and offers 26 Vanguard investment options, including a socially responsible equity portfolio. Pennsylvania residents may enjoy a state tax deduction for contributions to the plan.
Program type
Savings
Savings
How to enroll
Enroll through a financial advisor.
Enroll directly with the program.
Initial year of operation
2002
2002, but substantially changed in November 2006
State agency(ies)
Virginia529
Pennsylvania Treasury Department
Program manager
American Funds Service Company, American Funds Distributors, and Capital Research and Management Company
Pennsylvania Treasury Department, with Ascensus College Savings as record-keeper and servicing agent, and Vanguard as investment manager.
Program distributor
American Funds Distributors
Pennsylvania Treasury Department
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.
Individuals at least 18 years old, UGMA/UTMA custodians, and trusts.
Significant time or age restrictions imposed by the program
The account must be used within 30 years after the beneficiary graduates from high school or within 30 years after opening the account, whichever is later.
None
Maximum contributions
Accepts contributions until all account balances in Virginia's 529 plans for the same beneficiary reach $550,000.
Accepts contributions until all account balances in Pennsylvania's 529 plans for the same beneficiary reach $511,758.
Minimum contributions
The minimum initial contribution is $250 per fund ($1,000 for U.S. Government Money Market Fund), and the minimum subsequent contribution is $50 per fund. For an employer-sponsored program, the minimum contributions are $25 per fund.
No initial deposit required. Subsequent deposits can be a little as $1.
Does the program offer an e-gifting platform for receiving gift contributions?
This plan does not offer an online gifting portal allowing for easy sharing but may offer gift certificates or allow mail-in gift 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 Target-Based Portfolios contain 7 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. As each fund approaches its target date, it will increasingly emphasize income and preservation of capital by investing a greater portion of its assets in bond, equity-income and balanced funds, eventually investing principally in fixed-income funds and merging into the College Enrollment portfolio.
The Target Enrollment options contain 12 portfolios invested in Vanguard mutual funds and/or the Vanguard Short-Term Reserves Account. Contributions are placed into the portfolio corresponding to the beneficiary's age or anticipated year of enrollment and later reassigned to more conservative portfolios as the beneficiary approaches college age.
Static investment options
Select among various multi-fund objective based portfolios, U.S. Government Money Market or individual mutual funds from American Funds.
Select among 6 multi-fund portfolios (Aggressive Growth, Growth, Moderate Growth, Conservative Growth, Income, and Conservative Income) and 8 individual-fund portfolios.
Underlying investments
American Funds mutual funds.
Vanguard mutual funds
Enrollment or application fee
None, but contributions may be subject to a sales charge depending on share class.
None.
Account maintenance fee
None.
$10 annually, waived for accounts that have elected electronic delivery of all documents.
Program management fees
All options except College Target Date Series and Portfolio Series:
0.16% to 0.65% (includes 0.06%% state administrative fee), plus distribution/servicing fee of 0.22% to 0.25% (Class 529-A), 1.00% (Class 529-C), 0.50% (Class 529-E), 0.25% (Class 529-F-1 including Money Market Fund), 0.00% (Class 529-F-2 and 529-F-3
College Target Date Series:
No management fee, 0.06% state administrative fee, plus distribution/servicing fee of 0.24% to 0.30% (Class 529-A), 1.00% (Class 529-C), 0.50% (Class 529-E), 0.25% (Class 529-F-1), 0.00% (Class 529-F-2 and 529-F-3
Portfolio Series:
No management fee, 0.06% state administrative fee, plus distribution/servicing fee of 0.23% to 0.25% (Class 529-A), 1.00% (Class 529-C), 0.50% (Class 529-E) or 0.25% (Class 529-F-1), 0.00% (Class 529-F-2 and 529-F-3
0.29%, consisting of 0.0500% fee to the Commonwealth and 0.1175% combined fee to Upromise and Vanguard
Expenses of the underlying investments
Expenses of the underlying investments: Ranges from 0.02% to 0.14% (portfolio weighted average) in the age-based and static multi-fund portfolios. Other expenses range from 0.03% to 0.31%
Ranges from 0.02% - 0.12%
Total asset-based expense ratio
Class 529-A: 0.58% - 1.23%
Class 529-C: 0.68% - 2.02%
Class 529-E: 0.67% - 1.39%
Class 529-F-1: 0.67% - 1.22%
Class 529-F-2: 0.33% - 0.88%
Class 529-F-3: 0.28% - 0.83%
0.1875% - 0.2875%
Program match on contributions
None.
None., The Pennsylvania Treasury Department invests $100 for every child born in the Commonwealth via the Keystone Scholars program. Parents have until a child's first birthday to claim the $100 Keystone Baby Scholars investment by registering online or calling 1-800-440-4000.
State tax deduction or credit for contributions
Contributions to a Virginia 529 plan of up to $4,000 per account per year are deductible in computing Virginia taxable income, with an unlimited carryforward of excess contributions. Contributions are fully deductible in the year of contribution for taxpayers at least 70 years of age. Contributions from a non-owner are deductible by the account owner and not by the non-owner/contributor. Contribution deadline is receipt by the last business day of the year based on agency calendar.
Contributions to Pennsylvania AND non-Pennsylvania 529 plans of up to the gift-tax annual exclusion amount ($18,000 in 2024) per beneficiary are deductible in computing Pennsylvania taxable income. Spouses filing jointly must each have at least $18,000 in income to claim the maximum $36,000 per-beneficiary deduction. Rollovers from another 529 plan or from qualified U.S. savings bonds are not eligible for the deduction.
State tax recapture provisions
The principal portion of rollovers and nonqualified withdrawals from this plan are included in Virginia taxable income to the extent of prior Virginia tax deductions. Nonqualified withdrawals for this purpose do not include withdrawals made as the result of the beneficiary's death or disability or withdrawals made on account of the beneficiary's receipt of a scholarship.
Nonqualified distributions from any 529 plan are included by Pennsylvania taxpayers in Pennsylvania taxable income to the extent they are not a recovery of nondeductible contributions, following rules set forth in PIT Bulletin 2006-04. Rollovers are not subject to Pennsylvania tax.
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's definition of qualified education expenses 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. 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 Virginia and non-Virginia 529 plans are exempt. Virginia also exempts distributions from a Virginia 529 plan attributable to the beneficiary's death, disability, or receipt of a scholarship.
Qualified distributions from Pennsylvania and non-Pennsylvania 529 plans are exempt. Accounts in a Pennsylvania 529 plan are also exempt from Pennsylvania inheritance tax.
State tax treatment of rollovers
Virginia follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.
Pennsylvania follows federal tax-free treatment.
Does the sponsoring state exclude the value of an account for state financial aid purposes?
No
Yes
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.
Plan participants who are Pennsylvania residents are also eligible for "Tuition Rewards" - guaranteed tuition discounts at over 330 colleges participating in the privately-run SAGE Scholars program.
To whom are distributions made payable
Account owner, beneficiary, or eligible educational institution
The account owner, designated beneficiary, or an eligible educational institution.
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?
No
Yes
Telephone
1-800-421-4225
1-800-440-4000