Guide to College Savings Plans

Click on the fund names to get information on that state's investment options and rates of return or click on the url to find out more at their Website.

Name of Fund
College Saving Plan and Investment Manager
Contact Info
Legislation pending for savings plan (State has existing prepaid tuition plan.)
University of Alaska College Savings Plan,3830,pgid=col6287&lang=ENG,00.html

T. Rowe Price
800 478-0003 (in-state)

Manulife College Savings  Plan
Manulife Financial

(To be introduced this spring. State has existing prepaid plan)
Arizona (n)
Arizona Family College Savings Program

Waddell and Reed (InvestEd)

Securities Management & Research

Arizona Family College  Savings Plan
 Securities Management & Research

Arizona residents can invest in any 529 plan and earnings grow tax-exempt
GIFT College Investing Plan
(Great Investment For Tomorrow)

GIFT College Investing Plan
 Mercury Advisors

Mercury Advisors
  (Annual fee waived for Arkansas residents & some others)
Golden State ScholarShare College Savings Trust

Golden State Scholar Share College Savings Trust


877 728-4338
Colorado (b)
Scholars Choice College Savings Program

Scholar's Choice
Salomon Smith Barney

Salomon Smith Barney
Connecticut Higher Education Trust


888 799-2438
Delaware College Investment Plan

Delaware College  Investment Plan Fidelity

Fidelity Investments
800 544-1655
  Will add 100% equity and 70% equity/30% bonds and money market funds this April
District of Columbia
Washington D.C. has approved a college savings plan, which is likely to go into effect as soon as March, barring a decision by Congress to block it.
Florida College Savings Program
  Hasn't been picked
800 552-4723
  (Expected to open this summer. State has existing prepaid tuition plan.)
Georgia Higher Education Savings Plan (Legislation pending)
New plan to open this year
  Hasn't been picked
Idaho (a)
IDEAL (Idaho College Savings Program)


866 433-2533
(starts March 15)
Bright Start College Savings Program

Bright Start College  Savings Program
Salomon Smith Barney

Salomon Smith Barney
  Illinois residents have additional investment options that include CDs. The legislature is examing proposals for deductions
Indiana Family College Savings Plan

College Choice 529  Investment Plan One
Group Administrative Services

Bank One
  A proposal to make growth tax-exempt and give a deduction is before the legislature
College Savings Iowa

College Savings Iowa State Treasurer uses
Vanguard funds

State invests using Vanguard funds
Learning Quest Education Savings Program

Learning Quest Education  Savings Program  American Century\index.jsp

American Century
  Can elect an age asset allocation that has nothing to do with child's real age
Kentucky Education Savings Plan Trust

Kentucky Education  Savings Plan Trust

877 598-7878
Louisiana Student Tuition Assistance and Revenue Trust Program

Student Tuition Assistance  and Revenue Trust  Program (START)  State Treasurer

State Treasurer
800 259-5626
NextGen College Investing Plan

NextGen College Investing Plan  Merrill Lynch,2270,84,00.html

Merrill Lynch
  Difference in fees depends on if purchased direct or through financial advisors. Only four Merrill funds sold to direct investors.All 15 plans available through advisors. Added investments from MFS, Franklin Templeton & AIM in Nov. 2000.
Maryland College Investment Plan

College Savings Plans of Maryland--College Investing Plan  T. Rowe Price

Hasn't been picked
888 463-4723
  Expected to open this fall. State has existing prepaid tuition plan.
U. Fund College Investing Plan

U Fund College Investing  Plan Fidelity

Fidelity Investments
800 544-2776
  Plans to add 100% equity and 70%equity/30% bonds & money market in April
MESP (Michigan Education Savings Program)

Michigan Education Savings Plan TIAA-CREF

877 861-6377
  State may match $1 for every $3 contributed up to $200 per child in first year of enrollment (check restrictions)
Minnesota College Savings Plan

Minnesota College Savings Plan         TIAA-CREF

MACS (Mississippi Affordable College Savings Program)

Mississippi Affordable College Savings Program

(active mid-March)
  Plan to launch March 19. Prepaid plan already available.
MO$T (Missouri Saving for Tuition Program)

Missouri Saving for Tuition

College Savings Plan of Nebraska

College Savings Plan of Nebraska Union Bank & Trust

Union Bank & Trust
www.planforcollegenow. com
  Invest in Fidelity, Janus, Vanguard, Pimco, American Century, State Street, & T. RowePrice funds
New Hampshire
UNIQUE College Investing Plan

Unique College Investing Plan Fidelity

Fidelity Investments
800 544-1722
  Plans to add 100% equity and 70%equity/30% bonds& money market
New Jersey
New Jersey Better Educational Savings Trust

NJ Best State Treasurer

State Treasurer
877 465-2378
  State obligated to return at least contribution level
New Mexico(b)
The Education Plan

The Education Plan's College Savings Program  State Street
                                                   CollegeSense State Street/New York Life

Scholar's Edge State Street/Oppenheimer

State Street Global Advisors
800 499-7581
  Underlying portfolios are funds managed by MFS, SSGA, Janus, Invesco. Annual fees waived for New Mexico residents & some others)
New York
NY's College Savings Program

New York's College Savings Program TIAA-CREF

877 697-2837
North Carolina
College Vision Fund

North Carolina's National College Savings Program State Treasurer/Wachovia/NCM Capital Management/Seligman

State Treas.
(4 new plans starting July 1 will be professionally managed)
800 600-3453
North Dakota
College SAVE

College SAVE Morgan Stanley

Morgan Stanley Dean Witter

CollegeAdvantage Putnam

800-233-6734 or
Oklahoma College Savings Plan

Oklahoma College Savings Plan

877 654-7284
Oregon College Savings Plan

Oregon College Savings Plan Strong

Strong Capital Management



800 440-4000
(for existing hybrid tuition plan)
  New fund to be introduced later this year. State already has hybrid tuition/savings plan.
Rhode Island

CollegeBoundFund Alliance

Alliance Capital Management
888 324-5057
South Dakota
Has a bill to create a college savings program before its legislature
BEST Savings Program (Baccalaureate Education System

Tennessee's BEST TIAA-CREF

Has a bill to create a college savings program before its legislature
Utah Educational Savings Plan Trust

Utah Educational Savings Plan Trust State uses Vanguard Funds

State invests in Vanguard funds
Vermont Higher Education Savings Plan

Vermont Higher Education Investment Plan TIAA-CREF

Virginia Education Savings Trust

Virginia Education Savings Trust Virginia College Savings Plan Board

State agency
888 567-0540
Has a bill to create a college savings plan before its legislature

CollegeAmerica American Funds
West Virginia

Smart529 Hartford

800 307-4701
Legislation pending. State has a prepaid tuition plan.
EdVest College Savings Program

EdVest College Savings Program Strong

Tomorrow's Scholar Strong/American Express

Strong Capital Management
College Achievement Plan

College Achievement Plan Mercury Advisors

Mercury Advisors
(a)=not yet launched (b)=prepaid plan also
(h)=any broker fees are extra, except where noted (i)=contributions end at this balance
(k)=per taxpayer (n)=state also has a hybrid plan


Evaluation Tips on College Savings Plan Offered Under 529  
            The following tips guide you to learn about college savings plan offered under 529. You should first define your college concern, such as how many children you have? Will you commit to pay for their college expenses? You then go through the questions and fill out your answers as well as you could. Next you select your preferred state (or your residence state) and review its offering against the list of questions. Compare the answers you get with your intial answers. Highlight out questions that still beg for more complete answers. Then select your secondary or third choice state plan and match to the questions. You should be a well learned expert on the subject by this time. Now, you can commit your decision and select a plan to enroll in.  Since not all questions apply to all types of 529 plans, you may not get answers on some of the questions. However, this guide can give you a quick and focused learning process through iteration to become an educated 529 sponsor.   
           Concern for College Education
Do you have children? How many? Ages? 
Do you plan to have children? How many? Ages?
Do you want to sponsor college savings for children not of your own?
Do both parents want to contribute? Or single parent?                                

       Plan Eligibility

                 Only applicable to state residents?
Fully open to nonresidents?
Only applicable to sponsor's own children?
Fully applicable to any child?  

               Tuition, Room and Board

                 Covers tuition only? inflation included? Today's price and projected price?
Room and board also covered? percntage? 

               State Tax Deductions
Yes, how much?

               Savings Plan Security
Is your savings plan account guaranteed or secured by the state Government?

               Plan Management Fees and Expenses
Enrollment fee?
Annual maintenance fee?
Asset-based management fee?
Underlying fund expenses?
Annual return on investment record published?

               Prepaid Contracts
Prepaid contract lump sum payment options?
Prepaid contract installment payment options?
Value of contract for out-of-state colleges and in-state and out-of-state private colleges?

               Investment Considerations
Offers an age-based or years-to-enrollment investment program? 
Does the plan offer any other investment options?
Investment/fund manager(s) identified?

               Qualified Usage or Withdrawals
Plan covers tuition only?
Mandatory fees, such as registration?
Books, supplies and equipment?
Dormitory room and board?
                 Private room and board?

               Non-qualified Withdrawals
                 Prepaid contract cancellation penalty?
State tax consequences?

               Time or Age Limitations for Plan
Is there a minimum period before qualified withdrawals may be taken? 
Any limits on age or account duration?

               Plan Contributions
Amount of minimum contributions?
Amount of maximum contributions?

               Enrollment and Purchase Procedures
Only parents qualified?      
Can enroll on any child's behalf?           
Enrollment time limitation?
On-line form application? paper form application only?
On-line resources? Explanation and examples?
On-line plan and account review? 
                 Transferable to Other State's Colleges?

                 Pay average tuition of state colleges? How is it computed
Any Penalty for transfer out-of-state? Percentage? Tax consequences? 

               Plan Consultation
800 number available for consultation?
Qualified person accessible for consultation?


Useful Links:

1. Sensible-Investors picks seven best college savings plan
2. State Plan ratings
3. What is 529 Plan by TIAA-CREF
4. The way to save for college
5. The Internet guide to 529
6. TIAA-CREF serves 12 states college savings plans
7. USA Today's 'how state tuition plans rate' (be aware of date)
8. College savings plan network
9. College Planning network
10. College parents network
11. College savings plan by state - by OSU
12. State Prepaid Tuition Programs - by Mapping Your Future
13. The Best and the rest College savings Plan
14. Investment results
15. Business Week On-line Guide for College Savings Plan 3/12/2001
16. Business Week On-line Guide for College Savings Plan 3/11/2002