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Ohio College Advantage 529 Savings Plan by the Ohio Tuition Trust Authority

The Ohio College Advantage 529 Savings Plan is a great way to save money for your kid's college education. This program is administered by the Ohio Tuition Trust Authority, which is a State of Ohio Agency formed in 1989. The Ohio Tuition Trust Authority is located at 580 S. High St., Suite 208 Columbus, OH 43215-5644. The Phone number is 1-800-233-6734 and the website is www.collegeadvantage.com.

Tax Advantages for Ohio Residents of the College Advantage 529 Plan

All of your earnings in the 529 plan grow tax free and when withdrawals are used for qualified higher education expenses are exempt from state of Ohio and Federal income taxes.

The College Advantage 529 Savings Plan allows Ohio residents to deduct up to $2,000 from teh Ohio taxable income. Each contributor can deduct up to $2,000 per beneficiary per year with unlimited carryforwards into future years.

College Advantage 529 Plan Features and Benefits

As the contributor you can control the investments in your account including transferring money, changing beneficiaries, and reallocating investments.

Minimum contributions into the College Advantage program are $25 at a time. If you choose the Fifth Third 529 Certificate of Deposit CD the minimum investment is $500.

You can use the funds from your College Advantage plan at any accredited college or university in the country.

You can set up automatic withdrawals from your checking or savings account with electronic funds transferred EFT.

CollegeAdvantage offers some of the lowest investment fees among all 529 savings plans. There are no application fees, annual account maintenance fees, no sales loads, or sales charges.

529 Savings Plan impact on Financial Aid and the Free Application for Federal Student Aid FAFSA Form

CollegeAdvantage 529 Savings Plan and other 529 accounts are considered an asset of the account owner for federal financial aid purposes. If the parent is the account owner then up to 5.64% of the value of the account is counted as a parental asset on the Free Application for Federal Student Aid or FAFSA form.

Ohio College Advantage 529 Plan Investment Options

The Advantage Based Option - AABO
Vanguard Conservative Age-Based Option - VCAB
Vanguard Moderate Age-Based Option - VMAB
Vanguard Agressive Age-Based Option - VAAB
Vanguard Conservative Growth Index Portfolio - VCGP
Vanguard Moderate Growth Index Portfolio - VMGP
Vanguard Wellington Option - VWLO
Vanguard Growth Index Portfolio - VGIP
Fifth Third 529 Savings Account - FTSAV
Fifth Third 529 CD Certificate of Deposit - CD
Vanguard Prime Money Market Option - VPMM
Vanguard Inflation Protected Bond Option - VIPB
Vanguard Income Portfolio - VINC
PIMCO Total Return Option - PTRO
PIMCO High Yield Option - PHYO
Vanguard Aggressive Growth Index Portfolio - VAGP
Vanguard 500 Index Option - V500
Vanguard Windsor II Option- VWII
Vanguard Morgan Growth Option - VMNG
Vanguard Extended Market Index Option - VEMI
Oppenheimer Main Street Small Cap Option- OMSS
Vanguard Developed Markets International Stock Index Option - VDIM
GE Institutional International Equity Option - GEIO
Putnam Stable Value Option - STV
Guaranteed Savings Fund - GAR