COLUMBUS, Ohio--(BUSINESS WIRE)--Once again CollegeAdvantage has received a “5-cap rating,” the highest ranking from Savingsforcollege.com that a 529 plan may receive. According to Savingforcollege.com, “CollegeAdvantage is an ideal college savings plan for both Ohioans and those who live outside of Ohio. CollegeAdvantage offers outstanding flexibility, attractive investment options and a generous tax benefit that help make saving for college an obtainable goal.” “We are extremely pleased with our “5-Cap Rating” from Savingforcollege.com. The “5-Cap Rating” shows the strong value of Ohio’s plan. Our goal is to provide families with low-cost, quality investment options from leading fund managers that can help Ohio families reach their college savings goals,” said Tim Gorrell, executive director of CollegeAdvantage.
Savingforcollege.com rates 529 plans based on five criteria: 1) the performance of the 529 plan, 2) the costs of running the college-savings plan including expense ratios, administration and managerial fees, 3) special features such as age-based and risk-based portfolios as well as FDIC-insured options, 4) reliability signals such as plan disclosure statements, ease of making account changes and 5) tax benefits for any person who contributes to a CollegeAdvantage account even if they aren’t the account owner, but a resident of Ohio. CollegeAdvantage is one of four college savings plans nationwide to receive the “5-Cap Rating” both for Ohioans as well as those not living in Ohio.
Savingforcollege.com was created as a private company in 1999 with a mission to help individuals and professional advisors better understand how to meet the challenge of paying for higher education costs. Today, Savingforcollege.com is an industry-trusted informational website that provides analysis and articles on 529 plans, financial aid, scholarships and tools to help families plan and save for the cost of college.
CollegeAdvantage is Ohio’s 529 college savings program, offered and administered by the Ohio Tuition Trust Authority, a state agency under the Office of the Chancellor of the Ohio Department of Higher Education. Ohio is the fifth largest state sponsor of 529 plans in the country. CollegeAdvantage is offered as the CollegeAdvantage Direct 529 Savings Plan and the CollegeAdvantage Advisor 529 Saving Plan, which is offered and marketed through BlackRock and sold through professional financial advisors. The CollegeAdvantage program, which offers families a tax-advantaged way to save for college, has more than $10.35 billion in assets under management and over 637,153 total accounts as of Mar. 31, 2017. To learn more, visit www.CollegeAdvantage.com.