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AK University College Savings Plan |
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State Provider: Alaska; Net Assets ($mil):
$1,058.5 as of
10-31-09 |
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The University of Alaska College Savings Plan, which is run by T. Rowe Price, is available directly, not through brokers, and it's open to residents and nonresidents alike. Although beneficiaries can use their account balance at most U.S. colleges, those planning on attending the University of Alaska can choose the ACT portfolio, which guarantees that their investments will keep up with the school's tuition increases. The hallmarks of this plan are its reasonable costs and an outstanding group of underlying funds from T. Rowe Price. Total annual asset-based fees are well below industry norm, ranging from 0.68% to 0.96%. Investors do not pay an enrollment fee, but a $25 annual maintenance fee is charged to accounts under $25,000 unless automatic contributions are made. However, the plan isn't perfect. It has only one age-based option, which allocates 20% to equities for a college-aged beneficiary. While we aren't disagreeing with the merits of the plan's asset allocation strategy, we’d like to see more options for those who prefer a more conservative strategy during the draw-down years of college. On the whole, though, this is a strong option for both residents and non-resident investors.(Information as of 03/06/2009) |
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| Availability: Sales Channel |
Resident: Both
Non-Resident: Both
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
| Mos. to Qualified Withdrawal |
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Age-Based Portfolios
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| Static Portfolios |
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| US Stock
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Bond |
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| Total International Funds: 31 |
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| Underlying Funds’ Ratings |
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| Overall Morningstar Rating |
# Equity
Funds |
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# Bond
Funds |
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| Ratings as of
10-31-09 |
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| Range |
0.00
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0.28 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
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| Initial Purchase |
$250 |
$250 |
| Additional Purchase |
50 |
50 |
| Initial (AIP) |
50 |
50 |
| Additional (AIP) |
50 |
50 |
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