Win 1 of 3 $100 College Scholarships Giveaway (Closed)

Did you know that saving for your kids college can be a state tax benefit? Before you file your taxes on April 18, 2011, read below and have a chance to win 1 of 3 $100 College Advantage Scholarships!  This year, for the first time ever, Ohioans can direct all or a portion of their state tax refund directly into their CollegeAdvantage 529 Savings Plan. You must file your 2010 state taxes online for this option and choose direct-deposit.

You can even divide your refund or the portion you want directed to CollegeAdvantage into up to 3 accounts for your kids, grandkids, whoever you wish. It has never been this simple to save for your kids college education, by filing online, you can direct your refund to your kids college with 1 simple step on the State of Ohio online tax forms. Just be sure to enroll in the CollegeAdvantage 529 Savings Plan before you file your taxes online.

What is CollegeAdvantage?

picture of CollegeAdvantage

CollegeAdvantage is a a tax-free and state tax-deductible method of saving for your kids’ college. CollegeAdvantage makes it easy for anyone to begin a savings plan, it takes just $25 to start a CollegeAdvantage plan with no enrollment or annual maintenance fees. You can contribute as often as you like because the minimum contribution is just $25. Plus, anyone can contribute to your savings plan. You can contribute via check, automatic withdraw from your checking or savings account, or direct deposit from your payroll.

picture of $25 College Savings Plan
$25 College Savings Plan

We have CollegeAdvantage for both our kids, it is easy to contribute funds toward. We just send checks in and it is as easy as that. We also receive statements so we can keep an eye on it.  With CollegeAdvantage, it is easy to transfer funds, withdraw funds any time, and use at any accredited college nationwide.

Is CollegeAdvantage just for Ohio?

No. CollegeAdvantage is Ohio’s 529 college savings program featuring tax-free savings, however anyone can open a CollegeAdvantage plan nationwide through the Ohio Tuition Trust Authority. Financial advisors can also help you invest in CollegeAdvantage. It can be used at any accredited college nationwide.

Why do you need a college savings plan?

A college savings plan gives your kids more opportunities in life, and 60% more income compared to those with only a high school diploma.  Thinking about college and tuition can scare you to death.  There are affordable options, especially with public universities and financial aid. For the 2009/2010 school year, 4 years at a public university in Ohio runs just $36,075, at a private university nationwide, it is about $111,438 for 4 years.

CollegeAdvantage is not just for tuition fees. It can also be used for room and board, books and other qualified college expenses.  Don’t worry, if your kid decides not to go to college, you can change beneficiary or withdraw the funds.

Win 1 of 3 $100 CollegeAdvantage Scholarships (Cl0sed)

Updated: 4-21-11 Winners Announced: Congratulations, Anne, Heather C, and Toni Alabakovski!

CollegeAdvantage is offering three $100 CollegeAdvantage scholarships to help you start saving or add to your existing account.

Contest ends at 11:59pm EST on April 18, 2011 when a winner will be drawn at random and announced the next day. When commenting, please include your email address (not visible to public). I will notify the winners and they will have 36 hours to respond!

This was not a paid post. My own opinions were used based on my perceptions and experience. Thank you to CollegeAdvantage who provided the scholarships for  giveaway.

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237 thoughts on “Win 1 of 3 $100 College Scholarships Giveaway (Closed)

  1. Janine says:

    liked you on facebook and liked college advantage….i learned that its never too late and a little can go far

  2. Veronica Garrett says:

    I learned you can contribute as little as $25 and you can choose your own growth investments.

  3. susan smoaks says:

    at the collegeadvantage website i learned that The 529 college savings plans provide a tax-advantaged college savings option.

  4. Katie S. says:

    I learned that you can contribute as little as $25 and that you can pick your own growth investments (if you want).

  5. Nicole says:

    I learned the following by going to there site
    •Earnings are tax-free.
    •Deduct contributions from Ohio taxable income ($2,000 annually).
    •Use your funds at any college in the country.
    •Pay for tuition, room and board, or books.
    •Contribute as little as $25 at a time.
    •Benefit from professional money management by leading financial firms.
    •Save with FDIC-insured bank products.
    •Pay no enrollment fee, no maintenance fee and low administrative fees.
    •Transfer funds to another child.
    •Withdraw funds at any time.
    •Change investment options

  6. Nicole says:

    I learned the following about there savings plan
    •Earnings are tax-free.
    •Deduct contributions from Ohio taxable income ($2,000 annually).
    •Use your funds at any college in the country.
    •Pay for tuition, room and board, or books.
    •Contribute as little as $25 at a time.
    •Benefit from professional money management by leading financial firms.
    •Save with FDIC-insured bank products.
    •Pay no enrollment fee, no maintenance fee and low administrative fees.
    •Transfer funds to another child.
    •Withdraw funds at any time.
    •Change investment options

  7. Paul J says:

    I can deposit my Ohio income tax refund to my CollegeAdvantage account automatically, if only I were getting a refund.

  8. Diane says:

    I learned that you can deduct from your Ohio income taxes up to $2,000 per year per beneficiary, with unlimited carry forward in future years.

  9. Jenny Jackson says:

    There are numerous investment options from conservative to mixed portfolios. These can be chosen based on your child’s age and how you’d like these portfolios to progess

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  11. Marcella Cook says:

    Can you delete this one…didn’t know if the first one went through because it said the website was unavailable…sorry

  12. Marcella Cook says:

    The same benificiary can have more than one account!! W00H00000 (we need this!)

    emmerswee at gmail dot com

  13. Amber Porter says:

    You can use it at any college and choose your own investments.
    skipthelaundry at gmail dot com

  14. Anne says:

    I learned that if the beneficiary doesn’t go to college you can change beneficiaries to another family member or even yourself.

  15. Becky A says:

    Ohio CollegeAdvantage
    Contributions
    Maximum contributions:
    Accepts contributions until all 529 account balances in Ohio’s 529 plans for the same beneficiary reach $359,000.

    Minimum contributions:
    $25 ($500 for the Fifth Third CD option).

  16. Becky A says:

    Ohio CollegeAdvantage

    Maximum contributions:
    Accepts contributions until all 529 account balances in Ohio’s 529 plans for the same beneficiary reach $359,000.

    Minimum contributions:
    $25 ($500 for the Fifth Third CD option).

  17. Laura Budurlean says:

    I learned that CollegeAdvantage is not just for Ohio colleges, it can be used at any participating college. 🙂

  18. Amber says:

    On their website, found out that new this year, Ohio taxpayers filing their 2010 Ohio income tax return electronically can choose to have their refund sent to a CollegeAdvantage account. Anyone can choose this option, not just the account owner.

  19. Lana Dillon says:

    How wonderful, I learned that I can deposit all or some of my refund directly into the college fun…tha’t is wonderful, never saw the money, so it won’t be missed (as much). and it is preparing me and my daughter for her college education.

  20. Sarah B says:

    I learned that a CollegeAdvantage account can be opened by anyone. Grandparents, other relatives or family friends can all be account owners, or simply choose to contribute to an existing account. In addition, a Trust, corporation, non-profit or government entity can also open an account.

  21. Heather C. says:

    I learned that, unlike that college plan I have set up now, you can automatically set up a payroll deduction to fund the plan. This is a feature that I would love to have.

  22. sandra says:

    i learned that for the second year in a row, Ohio’s 529 plan was rated among the top five in the nation by Morningstar

  23. Jennifer Hess says:

    commented on the total home remodel post “Best carpets for kids with allegies” (Great article by the way!)

  24. Jennifer Hess says:

    Visited College Advantage website and love the Age-based savings options they offer and the fact that your contributions are tax deductible.

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