COLLEGE SAVINGS 101
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Summarizes and compares the features of 529 plans, 529 ABLE plans, ESAs, UTMAs, IRAs, and education savings bonds.
| YEAR 2021 RULES | Federal Financial Aid |
|---|---|
| 529 Plan | Counted as asset of parent if owner is parent or dependent student | Coverdell Education Savings Accounts | Counted as asset of parent if owner is parent or dependent student | Qualifying U.S. Savings Bonds | Counted as asset of bond owner | Roth IRA | Not counted as asset; withdrawals of principal and interest counted as financial aid income | Traditional IRA | Not counted as asset; withdrawals of principal and interest counted as financial aid income | UGMA/UTMA | Counted as student's asset | Mutual Funds | Counted as asset of the owner | 529 ABLE Plan | Account balances of $100,000 or less are disregarded; would also not be reported as an asset on a sibling's FAFSA |
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Top 529 College Savings Plans
One-year rankings are based on a plan's average investment returns over the last 12 months.
| State | Plan Name | |
|---|---|---|
| 1 | Indiana | CollegeChoice 529 Direct Savings Plan |
| 2 | West Virginia | SMART529 WV Direct College Savings Plan |
| 3 | Delaware | Delaware College Investment Plan |
Three-year rankings are based on a plan's average annual investment returns over the last three years.
| State | Plan Name | |
|---|---|---|
| 1 | Indiana | CollegeChoice 529 Direct Savings Plan |
| 2 | New York | New York's 529 College Savings Program -- Direct Plan |
| 3 | West Virginia | SMART529 WV Direct College Savings Plan |
Five-year rankings are based on a plan's average annual investment returns over the last five years
| State | Plan Name | |
|---|---|---|
| 1 | Ohio | Ohio's 529 Plan, CollegeAdvantage |
| 2 | West Virginia | SMART529 WV Direct College Savings Plan |
| 3 | Delaware | Delaware College Investment Plan |
10-year rankings are based on a plan's average annual investment returns over the last ten years.
| State | Plan Name | |
|---|---|---|
| 1 | Ohio | Ohio's 529 Plan, CollegeAdvantage |
| 2 | New York | New York's 529 College Savings Program -- Direct Plan |
| 3 | Indiana | CollegeChoice 529 Direct Savings Plan |
