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Texas College Savings Plan

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Basic TX resident benefits

TX resident benefits

The Texas College Savings plan, managed by Orion Advisor Solutions, Inc. (previously known as NorthStar Financial Services Group, LLC) offers age-based investment options, three risk-based portfolios and seven static options using underlying investments managed by Artisan, DFA, Dodge & Cox, Dreyfus, Invesco, T. Rowe Price, TIAA-CREF, and Vanguard.

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Texas College Savings Plan

KEY METRICS

OVERVIEW

Program type

Savings

Inception

2002, but substantially changed in November 2007. Orion replaced Oppenheimer as plan manager in September 2014.

State agency

Texas Prepaid Higher Education Tuition Board

Tax deduction

For single filers: None

For joint filers: None

Program manager

Orion Advisor Solutions, Inc.

Program distributor

Northern Lights Distributors, LLC

Manager contract term

MORE INFORMATION

Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

Individuals, UGMA/UTMA custodians, and legal entities.

Significant time or age restrictions imposed by the program:

None

Did you know?

  • 529 plan contributions grow tax-free.

    Withdrawals are tax-free when used to pay for qualified higher education expenses.

  • You can contribute as much as you want, as often as you want.

    The key is to get started. Enroll today by completing a quick form online.

Texas College Savings Plan
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Contributions

Maximum contributions:

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

Minimum contributions:

$25 per portfolio, or $15 per portfolio with the automatic contribution plan.

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

This plan does not offer an online gifting portal allowing for easy sharing but may offer gift certificates or allow mail-in gift contributions.

Investment Options

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

Ten age-based Portfolios offer underlying investments that are both actively and passively managed. Contributions are placed into the portfolio that corresponds to the age of the beneficiary. The portfolios automatically shift to a more conservative investment allocation over time.
PortfolioE.R. % Equity1yr performance
0-3 Years0.41%85.5%15.26%
4-6 Years0.4%81%14.54%
7-8 Years0.4%72%12.96%
9 Years0.4%63%11.45%
10-11 Years0.39%54%9.94%
12 Years0.39%45%8.49%
13-14 Years0.39%36%7.11%
15 Years0.38%27%5.68%
16-17 Years0.37%18%4.33%
18 Years and Over0.37%9%2.97%

Age-based/Enrollment Year investment options:

Ten age-based Portfolios offer underlying investments that are both actively and passively managed. Contributions are placed into the portfolio that corresponds to the age of the beneficiary. The portfolios automatically shift to a more conservative investment allocation over time.

Static investment options:

Select among 3 risk-based portfolios and 7 individual asset class portfolios.

Underlying investments:

Mutual funds and investment strategies managed by DFA, Eaton Vance, Federated Hermes, Vanguard and New York Life

Underlying fund allocations:

Portfolio Fees & Performance Lookup

Fees & Expenses

Enrollment or application fee:

None

Account maintenance fee:

None.

Program management fees:

0.25% manager fee (plus 0.06% state administrative fee)

Expenses of the underlying investments:

0.02% to 0.30% and none for the Capital Preservation.

Total asset-based expense ratio:

0.31% - 0.61%

Taxes and other Benefits

Tax deduction for single filers:

None

Tax deduction for joint filers:

None

Note:

Texas doesn't offer tax deductions

Program match on contributions:

None.

State tax deduction or credit for contributions:

Not applicable. Texas does not have a personal income tax.

State tax recapture provisions:

N/A

State definition of qualified expenses

The state conforms with the federal definition of qualified education expenses, which includes expenses for higher education, apprenticeship programs, interest and/or principal on qualified education loans up to a $10,000 lifetime cap, and up to $10,000 per year in tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. Distributions from a 529 account directly to a Roth IRA are considered a qualified expense for state income tax purposes.

State tax treatment of qualified distributions:

Not applicable. Texas does not have a personal income tax.

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

Yes

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:

Did you know?

  • Residents are not limited to investing in their own state's 529 plan.

    Another state may offer a plan that performs better and has lower fees.

  • The 529 plan chosen does not affect which state the student enrolls in.

    You can live in New York, open a plan from Nevada and send a student to college in Florida.

  • The best way to maximize your college savings?

    Start early and save often. You can get started today with easy online enrollment.

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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:

http://www.texascollegesavings.com

Telephone:

1-800-445-4723, option 3

Start saving for your child's future today

Complete the online application and make your first deposit

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