CollegeAdvantage 529 College Savings Program Surpasses Milestone $9 Billion in Program Assets

COLUMBUS, Ohio, July 2, 2014 /PRNewswire/ -- As the fifth largest state 529 plan sponsor in the country, Ohio's CollegeAdvantage 529 program has surpassed $9 billion in program assets. This milestone was reached during the second quarter. As of June 30, assets in all three CollegeAdvantage plans total $9.1 billion and are as follows: Direct Plan $4.0 billion, Advisor Plan offered by BlackRock $4.7 billion, and $0.4 billion in the Guaranteed Plan.

"With over 642,000 accounts and contributions totaling over $900 million during the past 12 months, CollegeAdvantage assets continue to grow. I believe this shows that our account owners are pleased with the performance of their investments, have confidence in our plans, and are truly committed to saving for college for their loved ones," said Paul Paeglis, executive director of the Ohio Tuition Trust Authority, the state agency that manages the CollegeAdvantage plans.

A CollegeAdvantage Direct Plan or Advisor Plan can be opened by anyone for as little as $25. Investment options include risk-free savings accounts and CDs, ready-made age-based options, as well as individual fund options for savers of all income levels, investment experience, and risk-tolerance preferences. For a College Savings 101 fact sheet, go to http://bit.ly/1sV9IEG.

About CollegeAdvantage:

CollegeAdvantage is Ohio's 529 college savings program, offered and administered by the Ohio Tuition Trust Authority, a state agency under the Office of the Chancellor of the Ohio Board of Regents. CollegeAdvantage is offered as the CollegeAdvantage Direct 529 Savings Plan and the CollegeAdvantage Advisor 529 Saving Plan offered through BlackRock. The CollegeAdvantage Guaranteed 529 Savings Plan remains closed since the end of 2003 to contributions and new enrollments.  To learn more, visit www.CollegeAdvantage.com.

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SOURCE Ohio Tuition Trust Authority