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Ohio 529 $50 Sign Up Bonus

One of our favorite Free Money [1] Friday offers is back! CollegeAdvantage [2]‘s $50 bonus is a great way to jumpstart your college savings.

How to Get Your $50 Bonus

  1. Open a CollegeAdvantage [3] 529 account with at least $100 by November 18, 2011.
  2. If the promo code “PLAN” isn’t already populated in your application, make sure you use it.
  3. Your $50 bonus contribution will be applied on or about March 15, 2012!

Why Ohio’s 529 Plan is Great

The Ohio plan is one of the best [4]. Here’s why:

  • Low fees and investment options. You can invest in the Vanguard 500 index fund with a 0.19% expense ratio.
  • No enrollment fee or maintenance fee.
  • You don’t have to live in Ohio to take advantage of it, although Ohio residents can take a tax deduction.
  • If you don’t have kids, you can just use yourself as the beneficiary.

CollegeAdvantage Bonus Offer Rules

  • Available to new and existing CollegeAdvantage [3] direct account owners who open a new direct account.
  • To qualify for the bonus, all required account information must be provided, an initial contribution of $100 made & the initial contribution must have cleared the bank.
  • Bonus will be invested in a CollegeAdvantage investment option (not paid out in cash).
  • Tuition Trust employees + board members are not eligible for the bonus.

More on 529s

Taxes. We’ve already covered how to handle taxes [5] on this 529 [6] bonus.

Get Creative. You can open multiple accounts [4] to make this bonus even better or use a 529 to make a bit of extra money [7].