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State Section 529 Plans

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This section of the site provides state-by-state access to the various state section 529 plans. It includes all state prepaid tuition and college savings plans nationwide. Please visit each plan's web site for current information about fund expenses, minimum contributions and other information not summarized below.

A separate page discusses state income tax benefits, which may include full or partial state income tax deductions for plan contributions.

The State 529 Plans

Currently all states offer either a prepaid tuition plan or a college savings plan or both.

Sixteen states offer both. These include:

AlabamaMassachusettsTennessee
ColoradoMichiganTexas
FloridaMississippiVirginia
IllinoisNevadaWest Virginia
KentuckyNew MexicoWisconsin
MarylandSouth Carolina 

One state offers just prepaid tuition plans:

Washington 

Thirty-three states offer just college savings plans. These include:

AlaskaIowaNorth Carolina
ArizonaKansasNorth Dakota
ArkansasLouisianaOhio
CaliforniaMaineOklahoma
ConnecticutMinnesotaOregon
DelawareMissouriPennsylvania
District of ColumbiaMontanaRhode Island
GeorgiaNebraskaSouth Dakota
HawaiiNew HampshireUtah
IdahoNew JerseyVermont
IndianaNew YorkWyoming

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Note that some of the states with savings plans, such as Alaska, Arizona, California, Connecticut, Georgia, Michigan, Minnesota, Missouri, Montana, New York, Ohio, and Pennsylvania include elements of prepaid tuition plans in their college savings plans by offering a guaranteed investment option.

Are Prepaid Tuition Plans Guaranteed?

During a recession, state prepaid tuition plans feel financial pressure from two directions. State income tax revenue declines during and shortly after a recession, forcing the state government to cut its budget. State support for higher education is one of the first budget areas to get cut. Since tuition is one of the few revenue sources under a public college's discretionary control, the colleges make up the difference by increasing tuition. This typically results in double-digit tuition inflation for public colleges. In addition, recessions are often accompanied by stock market losses. The combination puts pressure on the actuarial assumptions behind the state prepaid tuition plan.

Unless there is a future turnaround in the stock market, the prepaid tuition plans may not be able to fulfill all of their obligations to investors. It is not uncommon for the prepaid tuition plans to react by closing to new investors or by increasing the premiums over current tuition rates charged to new investors. Prepaid tuition plans in Colorado, Kentucky, West Virginia, South Carolina and Wisconsin are closed to new investors.

Because of the risk that a plan might not fulfill its obligations, it is important to consider whether the plan is backed by the full faith and credit of the state. Of the states with prepaid tuition plans, only Florida, Maryland, Massachusetts, Mississippi, South Carolina, Texas, Virginia and Washington provide a guarantee. The Florida and South Carolina guarantees are limited, with the Florida guarantee limited to students within five years of enrollment in college and the South Carolina guarantee limited to a 4% return on investment.

State Section 529 Plans

Alabama
Alabama Prepaid Affordable College Tuition (PACT)
Alabama HigherEducation 529 Fund (HE529 Fund)

Alaska
University of Alaska College Savings Plan
John Hancock Freedom 529

Arizona
Arizona Family College Savings Program

Arkansas
GIFT College Investing Plan

California
Golden State Scholarshare Trust

Colorado
Colorado CollegeInvest

Connecticut
Connecticut Higher Education Trust (CHET)

Delaware
Delaware College Investment Plan

Washington D.C.
DC College Savings Plan

Florida
Florida Prepaid College Tuition Program and College Investment Plan

Georgia
Georgia Higher Education Savings Plan (GHESP)

Hawaii
Hawaii TuitionEDGE Plan

Idaho
IDeal Idaho College Savings Plan

Illinois
College Illinois! Prepaid Tuition Program
Illinois Bright Start Savings

Indiana
Indiana College Choice 529 Investment Plan

Iowa
College Savings Iowa

Kansas
Kansas Learning Quest Education Savings Program

Kentucky
Kentucky Educational Savings Plan Trust (KESPT)
Kentucky's Affordable Prepaid Tuition Plan (KAPT)

Louisiana
Louisiana State Tuition Assistance and Revenue Trust (START)

Maine
Maine NextGen College Investment Plan

Maryland
College Savings Plans of Maryland

Massachusetts
Massachusetts College Saving Plans, U.Plan and U.Fund

Michigan
Michigan Education Trust (MET)
Michigan Education Savings Program (MESP)

Minnesota
Minnesota College Savings Plan

Mississippi
Mississippi Affordable College Savings (MACS)
Mississippi Prepaid Affordable College Tuition Program (MPACT)

Missouri
Missouri Savings for Tuition (MOST)

Montana
Montana Family Education Savings Program

Nebraska
College Savings Plan of Nebraska

Nevada
Nevada Prepaid Tuition Program
Nevada College Savings Plans

New Hampshire
New Hampshire College Tuition Savings Plan

New Jersey
New Jersey Better Educational Savings Trust (NJBEST)

New Mexico
The Education Plan of New Mexico
Scholar's Edge 529 College Savings Plan

New York
New York College Savings Program

North Carolina
North Carolina’s National College Savings Program

North Dakota
College SAVE 529 Plan

Ohio
Ohio College Advantage Savings Plan

Oklahoma
Oklahoma College Savings Plan

Oregon
Oregon College Savings Plan

Pennsylvania
Pennsylvania 529 Direct Investment Plan

Rhode Island
Rhode Island CollegeBoundfund

South Carolina
South Carolina Tuition Prepayment Program (SCTPP)
FUTUREScholar 529 College Savings Plan

South Dakota
College Access 529 Plan

Tennessee
Tennessee BEST Prepaid Tuition Plan
Tennessee BEST Savings Plan

Texas
Texas Tomorrow Fund -- Guaranteed Tuition Plan
Texas Tomorrow Fund -- Tomorrow's College Investment Plan

Utah
The Utah Educational Savings Plan (UESP)

Vermont
Vermont Higher Education Investment Plan

Virginia
Virginia College Savings Plan
Virginia Prepaid Education Program (VPEP)
Virginia Education Savings Trust (VEST)

Washington
Guaranteed Education Tuition (GET)

West Virginia
Smart529 College Savings Solution

Wisconsin
EdVest College Savings Program

Wyoming
NOTE: Wyoming does not offer a 529 prepaid or college savings plan. Rather, it has adopted the Colorado plan as its own.

 

 
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