Rhode Island's IRS Section 529 qualified state tuition savings program was created by the General Assembly in 1998. Known as the CollegeBoundfund®, it is currently managed by AllianceBernstein L.P. (AllianceBernstein) under an agreement between Treasury, the State Investment Commission (the SIC) and AllianceBernstein.
From its inception to June 30, 2015, administrative and operational oversight of the CollegeBoundfund® was performed by the Rhode Island Higher Education Assistance Authority (RIHEAA). Article 7 of the FY 2016 budget transferred administrative responsibility for CollegeBoundfund® from RIHEAA to Treasury effective July 1, 2015. Decisions pertaining to the investment portfolios in CollegeBoundfund® are subject to the oversight and approval of the SIC.
CollegeBoundfund® is a program designed to help Rhode Islanders affordably save for college. Investments and growth earnings can be used at accredited colleges, universities, vocational school and trade schools across the nation and offer a simple way to save and invest for a child's college education.
The links on this page are available for information purposes and to provide links to AllianceBernstein. For current information please visit the RI Office of the General Treasurer's website