DENVER, Oct. 29, 2019 /PRNewswire-PRWeb/ -- CollegeInvest, Colorado's not-for-profit state agency charged with helping working families prepare for the cost of college, has announced a new partnership with Nationwide Mutual Insurance Company and Nationwide Life Insurance Company ("Nationwide") for its Stable Value Plus college savings plan. Nationwide is one of the largest and strongest diversified insurance and financial services organizations in the United States, rated A+ by both A.M. Best and Standard & Poor's.
"Nationwide has an impeccable reputation for delivering top performing financial solutions for their customers," said Angela Baier, CollegeInvest's CEO. "This new partnership is a perfect complement to our goal of providing Colorado families with the very best investment opportunities for their hard-earned college savings."
Stable Value Plus is CollegeInvest's guaranteed fixed income and principal protection savings plan, currently offering a 2.49% rate of return through 2019 – the highest rate available in the country with these combined features (as of July 1, 2019). Nationwide has further enhanced the plan by guaranteeing the rate for an additional 12 months, through the end of 2020.
The combined guarantee of an annual interest rate and principal protection has become an extremely popular choice for Colorado families, witnessed by an 18% growth rate in accounts year-over-year (as of August 30, 2019).
Stable Value Plus is one of four college savings options available from CollegeInvest, which offers one of the most diverse selections of tax-advantaged savings options in the country. Currently, more than $8.8 billion is being saved in all CollegeInvest accounts, the majority of which are owned by Colorado residents. Colorado families set the pace for contributions to their CollegeInvest accounts by more than three times the national average (as of June 30, 2019).
CollegeInvest is dedicated to helping Coloradans save for post-secondary education and reduce student loan debt, especially low and middle-income families. Based on the principle that saving for higher education is a vastly more effective strategy than borrowing. CollegeInvest is Colorado's trusted resource in breaking down the financial barriers to attaining a postsecondary education, whether a degree from a community college or four-year university, or vocational training.
Current Stable Value Plus savings account holders do not need to take any action with this change, however, they are encouraged to review the Plan Disclosure Statement that was sent to them. The statement, and additional information is also available by visiting http://www.collegeinvest.org.
About CollegeInvest
CollegeInvest is Colorado's foremost resource designed specifically to help break down the financial barriers to attaining a higher education or vocational training. By providing expert information, easy-to-use planning tools, and an exceptionally diverse menu of tax advantaged college savings plans, CollegeInvest works to help Coloradans maximize their potential to save for college. CollegeInvest currently represents $8.8 billion in savings, the majority of which are held by Colorado residents. Money saved in a CollegeInvest 529 savings plan can be used at any public or private college, university, community college or vocational school, anywhere in the country. For more information, visit http://www.collegeinvest.org or call 1-800-448-2424, or contact your financial advisor.
Important Considerations
To learn about CollegeInvest's 529 program, its objectives, risks, charges, expenses, limitations, restrictions and qualifications regarding the Plans' benefits and potential tax advantages, please read and consider carefully the Program Disclosure Statements (PDS) available at http://www.collegeinvest.org before investing. Also, check with your or your beneficiary's home state to learn if it offers tax or other benefits for investing in its own plan. Administered and issued by CollegeInvest. CollegeInvest and the CollegeInvest logo are registered trademarks of CollegeInvest. Copyright © 2019 CollegeInvest.
About Nationwide®
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit http://www.nationwide.com.
The underlying investment product is issued and guaranteed by Nationwide Life Insurance Company.
Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company © 2019 Nationwide
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SOURCE CollegeInvest
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