DC College Savings Plan
The DC College Savings Plan is a 529 college savings plan specifically designed for residents of the District of Columbia. This plan offers a variety of investment options managed by well-known financial institutions, allowing participants to tailor their portfolios based on their risk tolerance and investment preferences. One unique feature of the plan is its affordability, with low minimum contribution requirements and competitive fees. The DC College Savings Plan also provides tax advantages, including tax-free growth and withdrawals when funds are used for qualified education expenses. Another notable aspect is the presence of a DC match program, where eligible DC residents can receive matching contributions based on their account contributions, further boosting their savings. Overall, this plan offers District of Columbia residents a convenient and cost-effective way to save for higher education.
EnrollState Tax Incentive
$4,000 single / $8,000 joint beneficiary
Program Manager
Ascensus
Investment Manager(s)
Vanguard, Schwab, Blackrock, DFA, JPMorgan
Plan type
Direct
Investments
Guided Investments
target-enrollment-portfolios
ESG Investments
Yes
Avg. expense fee
0.330%
Fee Range
0.31%-0.74%
Ratings
Backer Rating
Our rating is based on fees and tax savings advantages.
51%
for DC residents
34%
non-residents
Saving For College
Unbiased, independent resource for parents.
4.5
for DC residents
4.5
non-residents
Other
Connect with Mint.com
Track your finances in one place.
Yes
Connect with Backer
Full end to end enrollment, gifting and plan management.
Enrollment
Mobile app
Backer App covers this plan.
Yes
General Recommendation
This is a direct sold 529 plan, not rated by Morningstar.
