SOURCE: The Ohio Tuition Trust Authority

The Ohio Tuition Trust Authority

November 10, 2011 13:30 ET

CollegeAdvantage 529: The Gift That Keeps on Giving

Open a CollegeAdvantage Account Receive a Special Bonus

COLUMBUS, OH--(Marketwire - Nov 10, 2011) - Starting to think about the perfect gift to give a special child for the holidays? The Ohio Tuition Trust Authority is encouraging families to think about the gift of education with a CollegeAdvantage 529 plan. CollegeAdvantage, Ohio 529 plan is the perfect gift for a child guaranteed to last a lifetime and doesn't require replacement batteries.

Rated as one of the best 529 plans in the country by Morningstar, Ohio's CollegeAdvantage plan offers tax advantages, quality investment options and, for a limited time, a special $50 bonus offer. Families have until Nov. 18, 2011 to open a $100 CollegeAdvantage account and receive an additional $50 bonus on their account when they use the promo code SAVINGS at enrollment.

"The bonus offer is the Tuition Trust's way to encourage families to start saving now and not put off saving for college for another day," said Richard Norman, Interim Executive Director for the Ohio Tuition Trust Authority.

Ohioans who contribute to a CollegeAdvantage 529 account can also take advantage of the state of Ohio tax deduction for college savings. Up to $2,000 of contributions can be deducted each year per contributor (or married couple), per beneficiary, with unlimited carry forward in future years. Any Ohio taxpayer contributing to a CollegeAdvantage account including grandparents, other family members and friends can also claim the state tax deduction. In addition to the state tax deduction, earnings in a CollegeAdvantage account are free from state and federal income taxes when the funds are used for higher education expenses.

The CollegeAdvantage plan makes it easy for families to save for college and offers a diverse choice of investment options from leading fund managers. Funds invested in CollegeAdvantage can be used at any college in the country to pay tuition, fees, books and room and board.

Families can open a CollegeAdvantage account by going online at or by calling 1-800-AFFORD-IT (233-6734) and requesting an enrollment kit. Opening a new account online takes less than 10 minutes. Remember to enter the promo code SAVINGS to receive the $50 bonus.

For more information about CollegeAdvantage or the Ohio Tuition Trust Authority please visit or become a fan of CollegeAdvantage on Facebook or follow @Ohio529Plan on Twitter.

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-advantage way to save for college. The CollegeAdvantage program currently has more than $6.1 billion in total assets as of September 30, 2011.

Contact Information

  • Contact:
    Judy Cunningham
    PR Manager
    The Ohio Tuition Trust Authority
    Email Contact