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CO Direct College Savings Plan |
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State Provider: Colorado; Net Assets ($mil):
$902.8 as of
10-31-09 |
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We like elements of the Colorado CollegeInvest direct-sold plan, but it's not the most cost-effective choice, especially for out-of-staters. Colorado offers full state income-tax deductions on contributions made to this plan, making it a tough option to pass up for residents. Additionally, middle- to lower-income families can apply for the state-matching grant program, which matches every dollar an eligible Colorado resident contributes during the prior calendar year--up to $500 a year for a maximum of five years (the account must be opened when a child is age 12 or younger). Unfortunately, this plan's 0.75% flat rate fee for a straightforward, all-index lineup erodes the advantages of the underlying low-cost Vanguard funds and makes the plan more expensive than Upromise alternatives in Iowa and Missouri, as well as other direct-sold Vanguard programs offered in Ohio, Utah, and the firm’s own Nevada plan. We're also a bit miffed that a small reduction in the costs of the underlying investment portfolios in 2008 were added to the managers’ fee instead of being passed on to investors. For Coloradoans, the benefits of the state tax break and the grant program potentially outweigh the plan's higher costs, but nonresidents can find cheaper and more flexible options elsewhere.(Information as of 03/12/2009) |
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| Availability: Sales Channel |
Resident: Direct
Non-Resident: Direct
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
| Mos. to Qualified Withdrawal |
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Public, Private & International
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| Age-Based Aggressive, Age-Based Conservative, Age-Based Moderate |
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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: 13 |
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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 |
0.72
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0.84 |
| 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 |
$25 |
$25 |
| Additional Purchase |
15 |
15 |
| Initial (AIP) |
25 |
25 |
| Additional (AIP) |
15 |
15 |
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