Checklist for Choosing a College Savings Plan

This checklist highlights key considerations when choosing how to save for college.

Adobe Acrobat PDF Download the PDF: Checklist for Choosing a College Savings Plan
Criteria Savings Plan #1 Savings Plan #2 Savings Plan #3
Name of Plan

Type of Plan      
Plan Website      
   State Residency Requirements?      
   Age Restrictions?      
   Restrictions on Changes in Beneficiary      
   Contribution Limits (Annual)      
   Contribution Limits (Cumulative)      
   Minimum Monthly Contribution      
   Automatic Contributions Available?      
   Who Can Contribute?      
   Age-Based Asset Allocation?      
   Guaranteed Investment Option?      
   Limits on Changes in Investment Mix      
   Are Investments Diversified?      
   Estate Planning Benefits      
   Min/Max/Average Historical Returns      
   Risk of Losses      
   Fees (Up-Front)      
   Fees (Annual)      
   Fees (Back-End)      
Tax and Financial Aid Benefits      
   Income Tax Benefits (Federal)      
   Income Tax Benefits (State)      
   Financial Aid Impact (Asset)      
   Financial Aid Impact (Income)      
   What if child does not go to college?      
   What if child dies?      
   What if child becomes disabled?      
   What if child attends a private college?      
   What if child attends an out-of-state college?      
   Refund Limitations      
   Covered Expenses (COA vs. only Tuition and Fees)      

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