Ohio's 529 Plan Offering a Chance to Win One-Year of College Tuition

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Ohioans have a chance to win a year of college tuition; up to a $10,000 value.

The Ohio Tuition Trust Authority, the state agency that manages Ohio’s 529 CollegeAdvantage plan, is offering Ohio families a chance to win a year of college tuition; up to a $10,000 value. Families can enter to win at http://www.collegeadvantage.com and families who open a CollegeAdvantage Direct account will automatically be entered. Ohioans have until June 17, 2011 to enter for a chance to win. Complete rules and entry form are available at http://www.collegeadvantage.com.

“The year of college giveaway is part of our ongoing effort to encourage families to save and to further increase awareness and education about the many benefits Ohio’s 529 plans offers”, said Richard Norman, interim executive director for the Tuition Trust. “A full year of college tuition would be a significant head-start for a family,” said Norman.

The Ohio plan is offered to families directly through the Tuition Trust with the CollegeAdvantage Direct Plan and is also offered through financial professionals through the BlackRock CollegeAdvantage Advisor Plan. The CollegeAdvantage direct plan offers investment options managed by The Vanguard Group, Fifth Third Bank, PIMCO, OppenheimerFunds, and GE Asset Management.

Funds invested in CollegeAdvantage can be used at any college in the country to pay tuition, fees, books and room and board. Earnings in the plan are free from state and federal taxes when used for qualified higher education expenses. Any Ohio taxpayer who contributes to a CollegeAdvantage account can deduct up to $2,000 per contributor (or married couple) per beneficiary annually.

Families can open a CollegeAdvantage direct account by completing an account application online at http://www.collegeadvantage.com or by calling 1-800-AFFORD-IT (233-6734).

About the Ohio Tuition Trust Authority
The Ohio Tuition Trust Authority is a state agency within the office of the Chancellor of the Ohio Board of Regents and was created by the Ohio General Assembly in 1989. The Tuition Trust offers the CollegeAdvantage 529 Savings Plan to provide families with a tax-advantaged way to save for college. The CollegeAdvantage program currently has over $6.3 billion in total assets on behalf of 687,000 beneficiaries. For more information about the Tuition Trust visit http://www.collegeadvantage.com. Members of the media can visit http://www.collegeadvantage529media.com to create an account and view the CollegeAdvantage 529 Media Kit. Become a fan of CollegeAdvantage on Facebook or follow @Ohio529Plan on Twitter.

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Judy Cunningham
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