The Connecticut Higher Education Trust is committed to keeping your personal information secure. We picked the best plans for performance, low fees, and strong investment options. See all direct sold in-state and out-of-state 529 plans available to Connecticut residents and compare plans to find the right college savings plan for you The pros. CHET Advisor 529 provides an efficient, flexible, convenient way to save for a college education. Married individuals may open a joint 529 plan as part of the planning process for their child’s college education. From tax advantages and qualifying expenses to eligible beneficiaries and underlying fees, use this section to find out all the facts on CHET. Alongside the Disclosure Booklet, this is the most comprehensive resource to get a detailed overview of CHET. One-year rankings are based on a plan's average investment returns over the last 12 months. CHET is a tax-advantaged, low cost savings program specifically designed to help families save for future college costs. ESA vs. 529. Advantages vs. disadvantages of 529 plans. But earnings and withdrawals are federal income tax-free when used for qualified education expenses. The 529 tax-advantaged savings plans are authorized by the IRS to encourage people to save for future college costs. State Plan Name; 1 Indiana: CollegeChoice 529 Direct Savings Plan: 2 West Virginia: SMART529 WV Direct College Savings Plan: 3 Delaware : Delaware College Investment Plan: View Full List Find Plans in your State. Total CHET Individual Savings Plan contribution(s): Add Schedule CT-CHET, Lines 1, 2, and 3. There are two main types of plans, a prepaid program and a savings account. Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets. Opening a 529 plan for a grandchild rather than contributing to a parent-owned plan gives grandparents another stash of money that can be tapped in an emergency. Despite the tax advantages, a 529 college savings plan may not be the best way for a family to save money for college. You should read and consider them carefully before investing. My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. We are an independent, advertising-supported comparison service. There are a wide range of investment options so that you can recommend investment strategies that are right for your clients. December 12, 2017. The Connecticut Higher Education Trust (CHET) 529 College Savings plan allows you to start investing in your child’s educational future with as little as a $25 deposit. 529 plans 1 offer flexibility, control, and tax advantages. If the COVID-19 pandemic has proven anything, it’s that life is unpredictable. Performance & Prices. Simply, for a 529 plan withdrawal to be considered qualified and thus, tax-free, the money must be used to pay qualified study abroad expenses at a college or university that's eligible to participate in federal student aid programs. LEARN MORE > About CHET Advisor. To help families save for college, the State of Connecticut offers the Connecticut Higher Education Trust ( 529 plans are tax-deferred investments When you invest in a 529 college savings plan, your withdrawals will most likely be tax free. You can choose any 529 plan, not just the one from your home state. Until recently, this tax-free provision was set to expire in 2010, but, thanks to recent changes to the law, it appears to be a benefit that will be around for years to come. Direct-Sold Vs. Adviser-Sold 529 Plans It's generally best to invest in your own state's 529 plan if you can get an income-tax deduction for your … This guide explains 529s and provides details on the best 529 plans by state. 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