College & Career

District of Columbia

DC 529 College Savings Program (Direct-sold)
5 Cap Ratings
rating grahic rating grahic
(Resident Rating) (Non-Resident Rating)
Summary

The DC 529 College Savings Program (Direct-sold), available on a direct basis only to those who meet certain District of Columbia residency requirements, features a menu of age-based and static portfolio options primarily utilizing Calvert mutual funds. The program is available nationally through advisors at higher cost.

Program Details
  • Summary: The DC 529 College Savings Program (Direct-sold), available on a direct basis only to those who meet certain District of Columbia residency requirements, features a menu of age-based and static portfolio options primarily utilizing Calvert mutual funds. The program is available nationally through advisors at higher cost.
  • Program type: Savings
  • Program manager: Calvert Investment Management, Inc.
  • State residency requirements: The account owner must be a District of Columbia resident at the time of enrollment or work for a firm with over 300 employees that has payroll deduction for the DC College Savings Plan.
  • Maximum contributions: Accepts contributions until all account balances in the District of Columbia's 529 plan for the same beneficiary reach $260,000.
  • Minimum contributions: With lump-sum contributions, the minimum initial contribution is $100, and the minimum subsequent contribution is $25. With the automatic investment plan, the minimum contribution level is $25 per month via bank transfer or $15 per pay period via payroll deduction.
  • Age-based investment options: The Age-Based Option contains 5 portfolios of underlying funds. Contributions are placed into the portfolio corresponding to the beneficiary's age or as selected by the account owner, and later reassigned to more conservative portfolios as the beneficiary approaches college age. Account owners have the option to freeze the account at any particular portfolio.
  • Static investment options: Select among 6 individual-fund portfolios (Income, Balanced, Equity Index, U.S. Large Cap Equity, U.S. Small Cap Equity, and International Equity), and the Stability of Principal Investment Option.
  • Underlying investments: Calvert and State Street mutual funds. The Stability of Principal Option consists of a funding agreement with Acacia Life Insurance Company which guarantees principal and a minimum 3% annual rate of interest to the Trust.
  • Enrollment or application fee: None for D.C. residents, $25 for non-D.C. residents.
  • Account maintenance fee: $30, reduced to $15 for DC residents.
  • Program management fees: 0.15% management fee, including 0.05% administrative fee to D.C.
  • Expenses of the underlying investments: Ranges from 0.52% to 1.20% (portfolio weighted average) in the age-based portfolios, 1.22% to 1.86% in the individual-fund portfolios, and 0.35% in the State Street Equity Index portfolio. None for the Acacia Principal Plus portfolio.
  • Total asset-based expense ratio: 0.50% - 2.01%
    Principal Plus option: 0.15%
  • Program match on contributions: None.
  • State tax deduction or credit for contributions: Contributions to the District of Columbia 529 plan of up to $4,000 per year by an individual, and up to $8,000 per year by married taxpayers who each make contributions to their own account, are deductible in computing District of Columbia taxable income, with a five-year carryforward of excess contributions. Only contributions made by the account owner are deductible. Rollover contributions are not deductible. Contribution deadline is December 31 postmark.
  • Web site: Click here to visit
  • Telephone: 1-800-987-4859 (DC residents); 1-800-368-2745 (non-residents)
  • Twitter
  • Facebook
Powered by Savingforcollege.com
Copyright 2014 Savingforcollege.com, LLC. All Rights Reserved.

Show Show Bankrate.com's disclaimer

The information contained in this material and related materials ("Information") is based on information from sources believed to be accurate and reliable and every reasonable effort has been made to make the Information as complete and accurate as possible but such completeness and accuracy cannot and is not guaranteed. The reader and user of the Information should use the Information as a general guide and not as the ultimate source of information. The Information is not intended to include every possible bit of information regarding the Information but rather to complement and supplement information otherwise available and the reader and user should use the Information accordingly. The Information contains information about tax and other laws and these laws may change. The reader and user should realize that any investment involves risk and the assumptions and projections used in the Information may not be how the investments turn out. The reader and user should consult with their own tax, financial and legal advisors about all of the Information.

REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 4.08%  0.04 4.12%
15 year fixed refi 3.18%  0.03 3.21%
10 year fixed refi 3.21%  0.04 3.25%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.30%  0.03 4.27%
50K FICO-based HELOC 3.96%  0.01 3.97%
100K FICO-based HELOC 3.81%  0.01 3.82%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.75%  0.10 2.85%
48 month used car loan 2.99%  0.07 3.06%
60 month new car loan 3.20%  0.05 3.25%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99%  0.01 0.98%
2 Year CD 1.22%  0.02 1.20%
5 Year CD 1.87%  0.04 1.83%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.76%  0.01 15.77%
Cash Back Cards 16.44%  0.04 16.48%
Low Interest Cards 11.04% --0.00 11.04%
 
Next
advertisement
Remember the wise decision that Bank of America made in August 2001 in light of the decision it's making now.
advertisement
Is your money safe?
or ? See your bank, thrift or credit union's star rating. Find one that's safe enough for you.
Partner Center
advertisement

Connect with us