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Arizona


Arizona Family College Savings Program


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
Four FDIC-insured options are offered in the Arizona Family College Savings Program -- CollegeSure 529 Plan: (1) the CollegeSure CD with a variable interest rate pegged to a private-college tuition index, (2) the InvestorSure CD with an interest rate pegged to a percentage of the increase in the S&P 500 Index over a five-year period, (3) fixed-rate CDs with one-year or three-year maturities, and (4) the Honors Savings Account, a high-yield savings account available from College Savings Bank.

Program Details
Summary: Four FDIC-insured options are offered in the Arizona Family College Savings Program -- CollegeSure 529 Plan: (1) the CollegeSure CD with a variable interest rate pegged to a private-college tuition index, (2) the InvestorSure CD with an interest rate pegged to a percentage of the increase in the S&P 500 Index over a five-year period, (3) fixed-rate CDs with one-year or three-year maturities, and (4) the Honors Savings Account, a high-yield savings account available from College Savings Bank.
Program type: Savings
Program manager: College Savings Bank
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in Arizona's 529 plans for the same beneficiary reach $396,000.
Minimum contributions: CollegeSure CD:
With lump-sum contributions, the minimum initial contribution is $250. With the automatic investment plan, the minimum contribution level is $25 per month via electronic funds transfer, or $25 per payroll via payroll deduction. Deposits under $250 are held in an interest bearing savings account, and each time the balance reaches $250, a CD purchase is made.

InvestorSure CD:
With lump-sum contributions, the minimum initial contribution is $250. With the automatic investment plan, the minimum contribution level is $25 per month via electronic funds transfer, or $25 per payroll via payroll deduction. Deposits under $250 are held in an interest bearing savings account, and each time the balance reaches $250, a CD purchase is made on the next CD issue date.

Fixed Rate CDs:
With lump-sum contributions, the minimum initial contribution is $250. With the automatic investment plan, the minimum contribution level is $25 per month via electronic funds transfer, or $25 per pay period via payroll deduction. Deposits under $250 are held in an interest bearing savings account, and each time the balance reaches $250, a CD purchase is made.

Honors Savings Account:
The minimum initial deposit is $250.
Age-based investment options: None.
Static investment options: The interest rate on the CollegeSure CD is pegged to a private-college tuition index, less a margin percentage assigned at the time of purchase. The maximum rate in future years is set at a specified percentage over the first-year's rate. The InvestorSure CD has a five-year maturity, and earns interest tied to a percentage of the increase in the S&P 500 Index (70% as of May 1, 2012). Fixed-rate CDs earn interest at the rate posted at the time of purchase, and posted rates may change at any time. The Honors Savings Account featured an APY of 0.70% as of February 12, 2013.
Underlying investments: FDIC-insured certificates of deposit and a high-yield savings account from College Savings Bank.
Enrollment or application fee: None.
Account maintenance fee: None.
Program management fees: None
Expenses of the underlying investments: Not applicable, interest rate on CD is tied to a formula. No fees associated with the Honors Savings Account.
Total asset-based expense ratio:
Program match on contributions: None.
State tax deduction or credit for contributions: Contributions to Arizona AND non-Arizona 529 plans of up to $2,000 per year by an individual, and up to $4,000 per year by a married couple filing jointly, are deductible in computing Arizona taxable income. The original sunset date of December 31, 2012 has been removed, thus making the deduction permanent.
Web site: Click here to visit
Telephone: 1-800-888-2723
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