Rhode Island has its very own college savings plan, a powerful vehicle which allows parents families to save today to meet the rising costs of higher education tomorrow.
A flexible program which makes it easier for parents, grandparents, friends and family to save for a child's higher education.
CollegeBoundfund offers Rhode Islanders a range of benefits:
- Tax-Free Earnings - the money you put in and take out for qualified higher education expenses is free from federal and state taxes.
- Tax Deductible Contributions - RI taxpayers receive a state income tax deduction: $1,000 for married couples filing jointly and $500 for individual filers.
- No Income Limits - everyone can invest in CollegeBoundfund at their pace, with no limits restricting who is eligible.
- Low Minimum Investments - RI residents can sign up for automatic investment plans with no minimum to open an account. Opening an account with a check or money order requires a minimum initial investment of only $250.
- Experienced Investment Management - from AllianceBernstein Investments, Inc., one of the most experienced investment managers in the world, with oversight provided by the State Investment Commission and the Rhode Island General Treasurer.
- A Choice of Investment Options - with CollegeBoundfund, you get to choose from a range of investment options to select the best plan for your needs.
For more information select this link CollegeBoundfund.