SOURCE: Ohio Tuition Trust Authority

Ohio Tuition Trust Authority

December 15, 2010 11:40 ET

Ohio Tuition Trust Authority Offering $25 Matching Contribution for New CollegeAdvantage Accounts

$25 Bonus Match When Signing Up for an Autosave Option -- Offer Ends Dec. 31, 2010

COLUMBUS, OH--(Marketwire - December 15, 2010) - The Ohio Tuition Trust Authority, the state agency that administers Ohio's 529 plan, is offering a special limited time $25 matching contribution for any new CollegeAdvantage account opened now through December 31, 2010. Families who open a new account using the promo code TWENTYFIVE will automatically receive a $25 matching contribution in their new account. In addition, families who choose to use an autosave option such as payroll deduction or electronic fund transfers (EFT) will receive a bonus $25 match after the third $25 deposit. 

"Opening a CollegeAdvantage account is easy and affordable. The matching contribution offer provides a great incentive for families to take that first step and a quick way to add $50 to your account," said Mike Prescott, Executive Director of the Tuition Trust.

Ohioans who enroll and contribute to a College Advantage account by the end of the year can take advantage of Ohio's $2,000 annual state income tax deduction. Any Ohio taxpayer who contributes to a CollegeAdvantage account can claim the deduction, including grandparents. Up to $2,000 per contributor (or married couple) can be deducted for each child and contributions over $2,000 can be deducted in future years. In addition to the state tax deduction, earnings are exempt from state and federal taxes when the funds are used for higher education expenses.

Families can open a CollegeAdvantage account by going online at www.MakeFriendsWithTheFuture.com or by calling 1-800-AFFORD-IT (233-6734) and requesting an enrollment kit. 

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 billion in total assets on behalf of 687,000 beneficiaries as of September 30, 2010. For more information about the Tuition Trust visit www.collegeadvantage.com. Members of the media can visit 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.

Contact Information

  • Contact:
    Judy Cunningham
    Public Relations Manager,
    Ohio Tuition Trust Authority
    614-752-9350
    Email Contact