The Ohio CollegeAdvantage 529 Plan has a new promotion for existing account holders linked to tax refund season. If you make a new one-time contribution of $3,000 or more by April 30th, they will give you a $50 bonus. The $50 bonus will be applied on or before June 15, 2012. Account must be opened prior to March 1, 2012.
I received this offer by e-mail, but you can see it when you log in. There is no promotion code required. The $50 bonus contribution will be invested in the CollegeAdvantage investment option with the largest balance as of June 15, 2012.
$50 is only 1.7% of $3,000, but if you were going to contribute anyways it’s something – and sadly double what a savings account would pay you in interest on that same $3,000 over an entire year. Also, rollovers from outside 529s do indeed qualify as a contribution. I have money in the Ohio plan and have found it a solid plan with low-cost investment options, so if you’re in a more expensive 529 then this could be good time to move money over. It’s regularly ranked as a top plan by Morningstar.