Magazine

Table: BusinessWeek's Guide to College-Savings Plans (extended)


State

Contact Number

INVESTMENT CHOICES

Link to Plan/

Invest. Manager

2001 Returns(a)

EXPENSES

Max. Contribution

State Tax Deduction

Tax-Free Withdrawal

Residency Required

# Options

Age-based

100% Equity

100% Fixed Inc.

Other

(See Key)

Account Fees(b)

Expense Ratios(c)

Broker Fees

ALASKA

866 277-1005

12

8

1

1

M, TU

The University of Alaska College Plan Savings

T. Rowe Price

N/A

$30/yr.

0.32% to 0.76% + 0.30%

N/A

$250,000

N/A (No state income tax)

No

800 369-3641

11

8

1

1

M

T. Rowe Price College Savings Plan

T. Rowe Price

N/A

$30/yr.

0.55% to 0.76% + 0.30%

N/A

$250,000

N/A (No state income tax)

No

866 222-7498

10

6

2

2

Manulife College Savings Plan#

T. Rowe Price and Manulife Financial

N/A

$30/yr.

0.45% to 1.39%

Class A: 3.5% load + 0.75%/yr.

Class C: 1.05%/yr.

$250,000

N/A (No state income tax)

No

ARIZONA

888 923-3355

3

3

InvestEd#

Waddell and Reed

N/A

None

1.70% to 2.58%

Class A: 5.75% load

Class B: 5% back-end load

Class C: 1% back-end load

$177,000

No

Yes

No

888 667-3239

10

6

3

M

Arizona Family College Savings Plan

Securities Management & Research

-39.6% to 5.12%

$10 application fee

0.49% to 10.97%

Class A: 4.75% to 5% load

Class B: 3% to 5% back-end load + 0.51% to 3.74%/yr. (d)

$177,000

No

Yes

No

ARKANSAS

877 615-4116

5

1

1

1

M

GIFT College Investing Plan

Mercury Advisors

-9.11% to 5.15%

$25/yr.

0.50% to 1.74% + 0.60% or 0.95%

N/A

$245,000

No

Yes

No

CALIFORNIA

877 728-4338

5

2

2

G

Golden State ScholarShare College Savings Trust

TIAA-CREF

-17.22% to 5.00%

None

0.80%

N/A

$124,799 - $174,648, depending on child's age

No

No

No

COLORADO

888 572-4652

4

1

1

1

M

Scholar's Choice

Salomon Smith Barney

-8.82% to 7.21%

None

0.99% to 1.09%

Class A: 3.50% load + 0.25%/yr.

Class B: 2.5% back-end load + 0.95%/yr. first 8 yrs. then 0.25%/yr.

Class C: 0.65%/yr. (d)

$235,000

Unlimited

Yes

No

CONNECTICUT

888 799-2438

3

1

M, MM

CHET

TIAA-CREF

-8.88% to 5.35%

None

0.79%; 0.02% for MM

N/A

$235,000

No

Yes

No

DELAWARE

800 544-1655

11

8

1

1

M

Delaware College Investment Plan

Fidelity

-14.36% to 2.77%

$30/yr.

0.88% to 1.13%

N/A

$250,000

No

Yes

No

IDAHO

866 433-2533

3

1

1

G

IDeal

TIAA-CREF

N/A

None

0.70%

N/A

$235,000

$4,000 (f)

Yes

No

ILLINOIS

877 432-7444

3

1

1

1

Bright Start College Savings Program

Salomon Smith Barney

-11.62% to 7.73%

None

0.99%

N/A

$235,000

Unlimited

Yes

No

INDIANA

866 400-7526

7

5

1

1

College Choice 529 Investment Plan

One Group Administrative Services

-12.57% to 8.16

$10/yr. in-state, $30/yr. out-of-state

0.35% to 0.97%

Class A: 3.5% load + 0.40%/yr.

Class B: 0.95% for 6 yrs. then 0.40%/yr.

Class C: 0.65%/yr.

$114,548, on July 1, $236,750

No

Yes

No

IOWA

888 672-9116

4

4

College Savings Iowa

State Treasurer uses Vanguard funds

N/A

None

0.65%

N/A

$146,000

$2,180/beneficiary

Yes

No

KANSAS

800 579-2203

22

21

M

Learning Quest Education Savings Program

American Century

-16.10% to 2.15%

$40/yr. out of state

0.52% to 0.95% + 0.39%

N/A Now, but plan on offering through brokers by April

$235,000

$2,000 (f)

Yes

No

KENTUCKY

877 598-7878

2

1

1

Kentucky Education Savings Plan Trust

TIAA-CREF

-13.69 to 2.00%

None

0.80%

N/A

$235,000

No

Yes

Yes

LOUISIANA

800 259-5626

1

T

Student Tuition Assistance and Revenue Trust Program (START)

State Treasurer

0.0633

None

None

N/A

173065

$2,400/account (g)

Yes

Yes

MAINE

(k)

877 463-9843

4

1

1

1

M

NextGen College Investing Plan

Merrill Lynch

-11.81% to 5.01%

$50/yr.

Avg. 1.80%

N/A

$235,000

No

Yes

No

MARYLAND

888 463-4723

10

7

1

1

M

College Savings Plans of Maryland--College Investing Plan

T. Rowe Price

N/A

$90 enrollment fee; $30/yr.

0.38%

N/A

$175,000

$2,500/account (g)

Yes

No

MASSACHUSETTS

800 544-2776

11

8

1

M

U Fund College Investing Plan

Fidelity

-12.18% to 2.70%

$30/yr.

0.88% to 1.13%

N/A

$230,000

No

No

No

MICHIGAN

877 861-6377

3

1

1

MM/G

Michigan Education Savings Plan

TIAA-CREF

-14.52% to 5.45%

None

0.65%

N/A

$235,000

$5,000 (f)

Yes

No

MINNESOTA

877 338-4646

3

1

1

MM/G

Minnesota College Savings Plan

TIAA-CREF

N/A

None

0.65%

N/A

$122,484

No

Yes

No

MISSISSIPPI

800 486-3670

3

1

1

MM/G

Mississippi Affordable College Savings Program

TIAA-CREF

N/A

None

0.70%

N/A

$235,000

$10,000 (f)

Yes

No

MISSOURI

888 414-6678

3

1

1

G

Missouri Saving for Tuition

TIAA-CREF

-15.59% to 6.21%

None

0.65%

N/A

$235,000

$8,000/taxpayer

Yes

No

NEBRASKA

888 993-3746

10

4

1

1

M

College Savings Plan of Nebraska

Union Bank & Trust

-12.87% to 5.11%

$24/yr.

0.94% to 1.04%

Class A: 3.5% load + 0.25%/yr.

Class C: 0.50%/yr.

Class H: 5.75% load (d)

$250,000

$500 (f)

Yes

No

877 246-7526

10

7

1

M

AIM College Savings Plan#

Union Bank & Trust/AIM Funds

N/A

$25/yr.

avg. 1.25%

Class A: 3.5% load + 0.35%/yr.

Class B: 2.5% back-end load + 0.90%/yr.

Class C: 1% back-end load + 0.90%/yr.

$250,000

$500 (f)

Yes

No

NEVADA

877 529-5295

4

1

1

M

America's College Savings Plan

Strong

N/A

$20 enrollment fee

1.30%

N/A

$246,000

N/A (No state income tax)

No

800 752-6342

6

3

M

American Skandia College Savings Program#

Strong / American Skandia

N/A

$30/yr.

1.46% to 1.92%

Class A: 3.50% load + 0.15%/yr.

Class C: 0.60%/yr. + 1.0% back-end load

$246,000

N/A (No state income tax)

No

NEW HAMPSHIRE

800 544-1722

11

8

1

1

M

Unique College Investing Plan

Fidelity

-12.21 to 3.19%

$30/yr.

0.88% to 1.13%

Class A: 3.5 % load + 0.25%/yr.

Class B: 2.5% back-end load + 0.25%/yr.

Class C: 0.50%/yr. (d)

$233,240

N/A (No state income tax)

No

NEW JERSEY

877 465-2378

1

1

NJ Best

State Treasurer

0.1% to 3.7%

$5/yr.

0.50%

N/A

$185,000

No

Yes

Yes

NEW MEXICO

877 337-5268

9

1

1

1

M, MM

The Education Plan's College Savings Program

State Street

-13.25 to 6.91%

$25/yr.

0.78% to 1.56%

Class A: 3.50% load (d)

$251,000

Unlimited

Yes

No

866-529-7367

9

1

1

1

M, MM

CollegeSense#

State Street/New York Life

N/A

$25/yr.

1.10% to 1.66%

Class A: 3.50% load

Class C: 0.60%/yr. + 1% back-end load

$251,000

Unlimited

Yes

No

866-529-7283

9

1

1

1

M, MM

Scholar's Edge#

State Street/Oppenheimer

N/A

$25/yr.

1.02% to 1.65%

Class A: 3.50% load

Class C: 0.50%/yr. + 1% back-end load

$251,000

Unlimited

Yes

No

NEW YORK

877 697-2837

4

2

G, M

New York's College Savings Program

TIAA-CREF

-21.46% to 5.00%

None

0.65%

N/A

$235,000

$5,000 (f)

Yes

No

NORTH CAROLINA

800 600-3453

4

1

1

1

M

North Carolina's National College Savings Program

State Treasurer/Wachovia/NCM Capital Management/Seligman

N/A

None

0.1% to 0.25% admin. fee; avg. fund fee 0.05% - 1.16%

Class A: 3.25% load + 0.50%/yr.

Class B: 2.5% back-end load + 0.95%/yr. 1st 8 yrs. then 0.50%/yr.

Class C: 1.0% load + 0.75%/yr. (d)

$268,804

No

Yes

Yes (out-of-state residents can only buy a broker-sold plan)

NORTH DAKOTA

866 728-3529

5

3

M

College SAVE

Morgan Stanley

N/A

$30/yr. out of state

0.85% to 1.25% in state; 1.35% to 1.75% out of state

N/A

$268,000

No

Yes

No

OHIO

800 233-6734

14

1

1

I, M

CollegeAdvantage#

Putnam

-11.94% to 1.59%

$25/yr. out of state

0.49% to 1.23%

Class A: 3.5% to 5.75% load + 0.25%/yr.

Class B: 5% back-end load + 0.25%/yr.

Class C: 1% back-end load + 0.50% to 1%/yr. (h)

$232,000

$2,000/beneficiary (b)

Yes

No

OKLAHOMA

877 654-7284

3

1

1

MM/G

Oklahoma College Savings Plan

TIAA-CREF

-14.06% to 5.40%

None

0.79% to 0.83%

N/A

$235,000

$2,500/account

Yes

No

OREGON

866 772-8464

5

1

1

M

Oregon College Savings Plan

Strong

-14.30% to 2.20%

None

1.00% to 1.275%

Class A: 3.5% load + 0.4%/yr.

Class B: 2.5% back-end load + 0.95%/yr

Class C: 1.0% back-end load + 1%/yr. (d)

$250,000

$2,000/taxpayer

Yes

No

RHODE ISLAND

888 324-5057

15

2

2

C, M, PP

CollegeBoundFund

Alliance

-13.65% to -0.50%

$25/yr.

0.68% to 1.67%

Class A: 4.25% load + 0.25%/yr.: Class B: 4.0% back-end load + 1.0%/yr. for 8 yrs. then 0.25%/yr.

Class C: 1.0% back-end load + 1.0%/yr. (d)

$265,000

No

Yes

Yes (out-of-state residents can only buy a broker-sold plan)

SOUTH CAROLINA

888 244-5674

9

6

2

G

FutureScholar 529 College Savings Program

Bank of America

N/A

None

0.55% to 0.76%

N/A Now, but plans for new broker offering in April

$250,000

$250,000 lifetime limit

Yes

Yes (out-of-state residents can only buy a broker-sold plan)

SOUTH DAKOTA*

866 529-7462

25

5

12

6

MM, C

CollegeAccess 529 Plan

Pimco Funds

N/A

N/A

N/A

N/A

N/A

N/A (No state income tax)

No

TENNESSEE

888 486-2378

1

1

Tennessee's BEST

TIAA-CREF

-14.69% to 3.74%

None

0.95%

N/A

$235,000

N/A (No state income tax)

No

UTAH

800 418-2551

4

2

1

MM

Utah Educational Savings Plan Trust

State uses Vanguard funds

-12% to 8%

$25/yr. (i)

0% MM; 0.31% to 0.35% otherwise

N/A

$101,650 in state, $176,000 out of state

$1,410/beneficiary

Yes

No

VERMONT

800 637-5860

3

1

1

1

Vermont Higher Education Investment Plan

TIAA-CREF

-13.37% to 5.06%

None

0% for fixed income; 0.80% otherwise

N/A

$240,100

No

Yes

No

VIRGINIA

888 567-0540

12

8

M, MM

Virginia Education Savings Trust

Virginia College Savings Plan Board

-2.5% to 7.2%

$85 application fee

0.85% to 1.00%

N/A

$250,000

$2,000/account (g) (j)

Yes

No

800 421-9900, ext. 529

21

12

5

M, MM

CollegeAmerica#

American Funds

N/A

$10/yr.

0.51% to 1.17%

Class A: 3.75% to 5.75% load + 0.07% to 0.21%/yr.

Class B: 6% back-end load + 1.0%/yr. for 8 yrs. then 0.07% to 0.21%/yr.

Class C: 1.0%/yr.

$250,000

$2,000/account (g) (j)

Yes

No

WEST VIRGINIA(k)

866 574-3542

4

1

1

M

Smart529

Hartford

N/A

$25/yr.

1.16%

Class A: 5% load + 0.3%/yr

Class C: .99%/yr. (d)

$265,000

Unlimited

Yes

Yes (out-of-state residents can only buy a broker-sold plan)

WISCONSIN

888 338-3789

7

1

1

1

M, TU

EdVest College Savings Program

Strong

-8.1% to 3%

$20 enrollment fee;$10/yr.

1.25%

Class A: 3.5% load + 0.4%/yr

Class B: 0.95%/yr + 2.5% back-end load

Class C: 1.0%/yr + 1.0% back-end load (d)

$246,000

$3000/dependent

Yes

No

866 677-6933

6

3

Tomorrow's Scholar#

Strong/American Express

-8.8% to 0.3%

$20 enrollment fee;$10/yr.

1.27%

Class A: 3.5% load + 0.4%/yr

Class B: 0.95%/yr + 2.5% back-end load

Class C: 1.0%/yr + 1.0% back-end load

$246,000

$3000/dependent

Yes

No

WYOMING

877 529-2655

5

1

1

1

M

College Achievement Plan

Mercury Advisors

-7.75% to 6.36%

$25/yr.

0.67% to 1.77% + 0.95%

N/A

$245,000

N/A (No state income tax)

No

CORRECTIONS AND CLARIFICATIONS

The table accompanying "How to pick the right college plan" (BusinessWeek Investor, Mar. 11) should have indicated that Colorado offers an unlimited state tax deduction to its residents. Also, Connecticut reserves the right to charge 0.02% on top of the 0.79% expense ratio, but it has never done so.

KEY:

M=Mix of stocks, bonds, and/or money market; TU=Linked to tuition-price Inflation; G=Guaranteed; MM=Money market; T=Trust Fund;

I=Individual mutual funds; C=Customizable portfolios; PP=Principal protection

State will tax earnings; State will tax out-of-state earnings; * Plan expected to launch by April; # Must be purchased through a broker; (a) Returns only for investment options available for full year 2001; (b) Some states waive fees under certain circumstances; (c) Includes management fees and underlying fund fees; (d) None if bought directly from state; (f) Twice this amount if filing jointly; (g) Carryforward; (h) Less for Ohio residents; (i) 0.5% for accounts of less than $5,000; (j) No cap on deductions for account holders over age 70; (k) Additional options avaliable through a broker; (l) Plan also distributed through T.D. Waterhouse at added cost; (m) Will launch broker-sold product open to out-of-state residents later.


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