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Virginia's CollegeAmerica is an advisor-sold 529 plan that makes available a line-up of 26 individual funds, 6 multi-fund portfolios, and seven target date fund portfolios from American Funds through Class 529-A, 529-C, 529-E and 529-F-1 shares.

Program Details
Summary: Virginia's CollegeAmerica is an advisor-sold 529 plan that makes available a line-up of 26 individual funds, 6 multi-fund portfolios, and seven target date fund portfolios from American Funds through Class 529-A, 529-C, 529-E and 529-F-1 shares.
Program type: Savings
Program manager: American Funds Service Company, American Funds Distributors, and Capital Research and Management Company
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in Virginia's 529 plans for the same beneficiary reach $350,000.
Minimum contributions: The minimum initial contribution is $250 per fund ($1,000 for American Funds Money Market Fund), and the minimum subsequent contribution is $50 per fund. For an employer-sponsored program, the minimum contributions are $25 per fund.
Age-based investment options: The Target-Based Portfolios contain 7 portfolios of underlying mutual funds. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. As each fund approaches its target date, it will increasingly emphasize income and preservation of capital by investing a greater portion of its assets in bond, equity-income and balanced funds, eventually investing principally in fixed-income funds and merging into the College Enrollment portfolio.
Static investment options: Select among 25 individual mutual funds and 6 multi-fund portfolios from American Funds.
Underlying investments: American Funds mutual funds.
Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
Account maintenance fee: None.
Program management fees: None (0.10% state administrative fee is included in the underlying fund expenses).
Expenses of the underlying investments: Ranges from 0.50% to 1.56% for Class 529-A, 0.50% to 2.27% for Class 529-C, 0.49% to 1.72% for Class 529-E, and 0.44% to 1.24% for Class 529-F-1.
Total asset-based expense ratio: Class 529-A: 0.50% - 1.56%
Class 529-C: 0.50% - 2.27%
Class 529-E: 0.49% - 1.72%
Class 529-F-1: 0.44% - 1.24%
Program match on contributions: None.
State tax deduction or credit for contributions: Contributions to a Virginia 529 plan of up to $4,000 per account per year are deductible in computing Virginia taxable income, with an unlimited carryforward of excess contributions. Contributions are fully deductible in the year of contribution for taxpayers at least 70 years of age. Contributions from a non-owner are deductible by the account owner and not by the non-owner/contributor. Contribution deadline is receipt (not postmark date) by the last business day of the year based on agency calendar.
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Telephone: 1-800-421-4225
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