Minnesota College Savings Plan
The Minnesota College Savings Plan offers families a unique way to save for education expenses. Managed by TIAA-CREF Tuition Financing, Inc., this plan provides a variety of investment options, including age-based portfolios and individual fund choices, allowing for customization based on risk tolerance and investment preferences. It stands out with its potential state tax benefits, including a state income tax deduction on contributions for Minnesota residents. The Minnesota College Savings Plan also offers a high maximum contribution limit, providing families with the opportunity to save a significant amount for education.
EnrollState Tax Incentive
$1,500 single / $3,000 joint beneficiary
Program Manager
TIAA-CREF Tuition Financing, Inc
Investment Manager(s)
TIAA, Vanguard, DFA
Plan type
Direct
Investments
Guided Investments
age-based
ESG Investments
Yes
Avg. expense fee
0.140%
Fee Range
.1225%-0.2825%
Ratings
Backer Rating
Our rating is based on fees and tax savings advantages.
59%
for MN residents
59%
non-residents
Saving For College
Unbiased, independent resource for parents.
4.5
for MN residents
4.5
non-residents
Morningstar Rating
Once a year, the financial services firm Morningstar releases its 529 ratings.
Other
Connect with Mint.com
Track your finances in one place.
No
Connect with Backer
Full end to end enrollment, gifting and plan management.
Gifting Only
Mobile app
Backer App covers this plan.
Yes
Plan in the news?
Check out latest news about this plan.
General Recommendation
This is a direct sold 529 plan, rated as silver by Morningstar.
