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CA ScholarShare Colleg |
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State Provider: California; Net Assets ($mil):
$2,894.7 as of
10-31-09 |
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California's direct-sold college savings plan (ScholarShare) is okay, but better options exist. The Fidelity-managed plan lacks state tax breaks on contributions and fails to grant access to some of Fidelity's top funds. Its limited exposure to value-oriented and small- to mid-cap offerings also impedes portfolio diversification. The plan does have some redeeming qualities. It doesn't charge an annual account fee and its age-based options are reasonably priced, charging 0.50% for the index version and 0.70% to 1.09% for the actively-managed version. But investors needn't settle. We recommend looking at some of our favorites, including Ohio’s direct sold CollegeAdvantage plan, or, for the index lovers, Utah's Educational Savings Plan Trust instead. (Information as of 03/23/2009) |
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| Availability: Sales Channel |
Resident: Direct
Non-Resident: Direct
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
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$320,000 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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Public, Private & International
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Age-Based Portfolios
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| Static Portfolios and Self-Directed Funds |
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| US Stock
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Bond |
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| Total International Funds: 40 |
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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 |
0.30
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0.7 |
| 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 |
$50 |
$50 |
| Additional Purchase |
25 |
25 |
| Initial (AIP) |
15 |
15 |
| Additional (AIP) |
15 |
15 |
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