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Direct Portfolio College Savings Plan

4 / 5

Our rating

Best CO resident benefits

CO resident benefits

The team of Ascensus Broker Dealer Services, Inc. and The Vanguard Group manages the Colorado Direct Portfolio College Savings Plan. It features age-based and static portfolio options utilizing Vanguard mutual funds. Accounts can be linked to the Upromise rewards service.

Direct Portfolio College Savings PlanHigh Honors

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2004

State agency

CollegeInvest, a division of the Colorado Department of Higher Education

Tax deduction

For single filers: $25,400/yr per beneficiary

For joint filers: $38,100/yr per beneficiary

Program manager

Ascensus Broker Dealer Services, Inc. and The Vanguard Group, Inc and College Invest.

Program distributor

Vanguard Marketing Corporation

Manager contract term

MORE INFORMATION

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens or resident aliens, trusts, 501(c)(3) organizations, and local governments.

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Colorado's 529 plans for the same beneficiary reach $500,000.

Minimum contributions:

The minimum initial contribution is $25, and the minimum subsequent contribution is $15.

Does the program offer an e-gifting platform for receiving gift contributions?

This plan offers a robust gifting platform that allows gift-givers to save their own profile for recurring or future contributions.

SPONSORED

Other great plans to consider

You are not limited to your own state's 529 plan, so compare the plan and tax benefits offered by your state to other options. Here are some plans that are available to residents of any state and have earned awards in our 529 Plan Ratings:

Investment Options

Investors in Direct Portfolio College Savings Plan can select from the following investment options. Click on a portfolio name for more information.

The Age-Based option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.
PortfolioE.R. % Equity1yr performance
Aggressive: Aggressive Growth Portfolio (0-4)0.28%100%6.73%
Aggressive: 87.5% Stock 12% Bond Portfolio (5-6)0.28%87.5%6.44%
Aggressive: 87.5% Stock 12% Bond Portfolio (7-8)0.28%87.5%6.44%
Aggressive: Growth Portfolio (9-10)0.28%75%6.13%
Aggressive: 62.5% Stock 37.5% Bond Portfolio (11-12)0.28%62.5%5.95%
Aggressive: Moderate Growth Portfolio (13-14)0.28%50%5.67%
Aggressive: 37.5% Stock 62.5% Bond Portfolio (15-16)0.28%37.5%5.44%
Aggressive: Conservative Growth Portfolio (17-18)0.28%25%5.08%
Aggressive: 12.5% Stock 87.5% Bond Portfolio (19+)0.28%12.5%4.67%
Moderate: 87.5% Stock 12% Bond Portfolio (0-4)0.28%87.5%6.44%
Moderate: Growth Portfolio (5-6)0.28%75%6.13%
Moderate: 62.5% Stock 37.5% Bond Portfolio (7-8)0.28%62.5%5.95%
Moderate: Moderate Growth Portfolio (9-10)0.28%50%5.67%
Moderate: 37.5% Stock 62.5% Bond Portfolio (11-12)0.28%37.5%5.44%
Moderate: Conservative Growth Portfolio (13-14)0.28%25%5.08%
Moderate: 12.5% Stock 87.5% Bond Portfolio (15-16)0.28%12.5%4.67%
Moderate: Income Portfolio (17-18)0.28%0%4.29%
Moderate: Income Portfolio (19+)0.28%0%4.29%
Conservative: 62.5% Stock 37.5% Bond Portfolio (0-4)0.28%62.5%5.95%
Conservative: Moderate Growth Portfolio (5-6)0.28%50%5.67%
Conservative: 37.5% Stock 62.5% Bond Portfolio (7-8)0.28%37.5%5.44%
Conservative: Conservative Growth Portfolio (9-10)0.28%25%5.08%
Conservative: 12.5% Stock 87.5% Bond Portfolio (11-12)0.28%12.5%4.67%
Conservative: Income Portfolio (13-14)0.28%0%4.29%
Conservative: 50% Bond 50% Colorado Short-Term Reserves Portfolio (15-16)0.28%0%3.7%
Conservative: 25% Bond 75% Colorado Short-Term Reserves Portfolio (17-18)0.28%0%3.16%
Conservative: Interest Accumulation Portfolio (19+)0.28%0%2.6%

Age-based/Enrollment Year investment options:

The Age-Based option is offered in 3 different risk levels (Aggressive, Moderate, and Conservative) each containing 9 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the risk level selected and the number of years to expected enrollment, and later reassigned to more conservative portfolios as the beneficiary approaches college age.

Static investment options:

Select among 5 multi-fund portfolios with varying risk tolerances and 3 individual-fund portfolios.

Underlying investments:

Vanguard mutual funds.

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

$20 for accounts with less than $10,000, waived for Colorado residents and for accounts opting to receive all documents electronically.

Program management fees:

0.28% manager fee; fee includes underlying fund expenses and a 0.06% fee to the state.
CollegeInvest may charge an administrative fee of up to 0.10%. CollegeInvest will periodically reevaluate the 0.06% administrative fee rate and raise or lower it not to exceed 0.10%.

Expenses of the underlying investments:

Not applicable, 0.02% - 0.06% included in the program management fee.

Total asset-based expense ratio:

0.28%

Taxes and other Benefits

Tax deduction for single filers:

$25,400/yr per beneficiary

Tax deduction for joint filers:

$38,100/yr per beneficiary

Example:

Married filing jointly residents contributing $100/month can expect an additional $53/yr a year in tax savings.

Program match on contributions:

The Matching Grant Program provides a dollar-for-dollar match of up to $500 in contributions for lower- to middle-income Colorado residents to accounts with an eligible beneficiary (a dependent under age 13 at the time of initial application). Applications are accepted each year between October 3 and December 29, 2023. The match can extend for a maximum five years. Matching grants for future years are subject to continued funding by the sponsor. In addition, First Step, a kickstarter savings program gives every child born or adopted in the State of Colorado, beginning on January 1, 2020, a $100 contribution to their CollegeInvest 529 college savings account. Offering more opportunities for Colorado families to save for college, CollegeInvest will also match a portion of their future contributions, up to $500 per year for five (5) consecutive years.

State tax deduction or credit for contributions:

For income tax year commencing on January 1, 2025, the Colorado income tax deduction otherwise available for contributions to any Colorado 529 plan or any 529 plan affiliated with an educational institution in Colorado shall not exceed $25,400 per taxpayer per beneficiary for a taxpayer who files a single return, or $38,100 per taxpayer per beneficiary for taxpayers who file a joint return. For income tax years commencing on or after January 1, 2026, the deduction limits described in the preceding sentence will be adjusted annually by the percentage change in the combined average annual costs of tuition and room and board for all Colorado institutions of higher education as determined by the Colorado Department of Education.

The Working Families College Savings Act offers a Colorado tax credit for employers who make contributions to CollegeInvest savings plans owned by their employees. The available tax credit is 20% of the amount contributed to a CollegeInvest 529 account, up to $500 per employee (for a $2,500 employer contribution).

Calculate your Colorado 529 tax benefit

Find out how much you can save on state taxes this year by contributing to a Colorado 529 plan.

Your tax savings per year
$53

per future student

Household income

$100,000

Monthly Contribution

$100

* For the most accurate results, enter the Monthly Contribution amount for one beneficiary (future student).

State tax recapture provisions:

The portion of the withdrawal attributable to contributions previously deducted for Colorado income tax purposes is subject to recapture and must be added to the taxable income of the taxpayer who took the deductions, in the year in which the withdrawal is made. The recapture provision applies to a rollover to a non-Colorado Section 529 Plan or ABLE account.

State definition of qualified expenses

The state's definition of qualified education expenses currently includes expenses for attendance at an institution of higher education or an apprenticeship program, as defined by the Internal Revenue Code and its regulations addressing qualified state tuition programs. This does not include tuition for elementary or secondary education, or education loan payments.

State tax treatment of qualified distributions:

Qualified distributions from Colorado and non-Colorado 529 plans are exempt.

State tax treatment of rollovers:

Colorado follows federal tax-free treatment except that outbound rollovers are subject to the recapture of prior state tax deductions.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

No

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

Is there a rewards program or outside scholarship program that works with this program?

Yes, the Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution, beneficiary, or account owner, as directed by the account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

Yes

Documents and other services accessible or downloadable on the program's public Web site:

Contact

Website:

https://www.collegeinvest.org/our-savings-plans/direct-portfolio

Telephone:

1-800-997-4295

Twitter

http://twitter.com/#!/CollegeInvestCO

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