American funds 529

American funds 529 DEFAULT

Virginia's CollegeAmerica is an advisor-sold 529 plan that makes available a line-up target date fund portfolios, multi-fund portfolios, individual fund portfolios from American Funds through Class 529-A, 529-C, 529-E, 529-F-1, 529-F-2 and 529-F-3 shares. To find a financial advisor in your area, use the Directory of Financial Professionals.

Fee Score

The fee score is derived from the analysis of costs done as part of Savingforcollege.com's 5-Cap Rating. This analysis compares total average asset-based expenses of the plan to other 529 savings plans. See the methodology for more information.

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Performance

The performance score is derived from the analysis of performance as part of Savingforcollege.com’s 5-Cap Rating. See the methodology for more information.

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  • Program type

    Savings

  • Inception

    2002

  • State agency

    Virginia529

  • Tax deduction

  • Program Manager

    American Funds Service Company, American Funds Distributors, and Capital Research and Management Company

  • Program distributor

    American Funds Distributors

Ratings & Rankings

Our overall rating for VA residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

Our overall rating for non-residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

SAVING FOR COLLEGE’S 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories.

Eligibility

State residency requirements:

Who can be a participant/owner in the program?

Significant time or age restrictions imposed by the program:

Contributions

Maximum contributions:

Minimum contributions:

Investment Options

Age-based/Enrollment Year investment options:

View more age-based investment options

Static investment options:

View more static investment options

Underlying investments:

View a full list of this plan’s investment options

Underlying fund allocations:

Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

Account maintenance fee:

Program management fees:

Expenses of the underlying investments:

Total asset-based expense ratio:

Broker loads and commissions:

Breakpoint pricing:

Does breakpoint pricing include non-529 assets under rights of accumulation policies

Taxes and other Benefits

  • Tax deduction for single filers

    $4,000/yr

  • Tax deduction for joint filers

    $4,000/yr

Example

Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.

Program match on contributions:

State tax deduction or credit for contributions:

State tax recapture provisions:

State definition of qualified expenses

State tax treatment of qualified distributions:

State tax treatment of rollovers:

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

Is there a rewards program or outside scholarship program that works with this program?

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Account Changes

Policy regarding participant/owner changes:

Documents, Access & Reporting

Does participant have online password-protected access to account?

Can the complete enrollment process including funding be done online?

Documents and other services accessible or downloadable on the program's public Web site:

Contact

Website:

Telephone:

Facebook

State News

Virginia 529 plan becomes first to top $100 billion mark (08/09/2021)

Virginia529 hits $100B milestone (07/30/2021)

Get expert help finding the right 529 plan

Connect with a financial advisor in your local area

Sours: https://www.savingforcollege.com/529-plans/virginia/collegeamerica

American Funds College 2036 529-A CCFAX

Allocation--70% to 85% Equity
Large Growth
Credit Quality / Interest Rate Sensitivity
Medium / Moderate

Will CCFAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable CCFAX’s performance objective and investment process is for both security selection and portfolio construction.

The People Pillar is our evaluation of the CCFAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

The Parent Pillar is our rating of CCFAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

The number of funds that receive a Morningstar Analyst Rating is limited by the size of the Morningstar analyst team. To expand the number of funds we cover, we have developed a machine-learning model that uses the decision-making processes of our analysts, their past ratings decisions, and the data used to support those decisions. The machine-learning model is then applied to the “uncovered” fund universe to create the Morningstar Quantitative Rating (denoted on this page by a ), which is analogous to the rating a Morningstar analyst might assign to the fund if an analyst covered the fund. These quantitative rating predictions make up what we call the Morningstar Quantitative Rating™ for funds. Click here for more on how to use these ratings.

Sours: https://www.morningstar.com/funds/xnas/ccfax/quote
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Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing.CollegeAmerica is distributed by American Funds Distributors, Inc. and sold through unaffiliated intermediaries.

Depending on your state of residence, there may be an in-state plan that provides state tax and other state benefits, such as financial aid, scholarship funds and protection from creditors, not available through CollegeAmerica.Before investing in any state's 529 plan, investors should consult a tax advisor.CollegeAmerica is a nationwide plan sponsored by Virginia529℠. 

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Portfolios are managed, so holdings will change.

American Funds Distributors, Inc., member FINRA.

Use of this website is intended for U.S. residents only.

This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.

©2021 Morningstar, Inc. All Rights Reserved. Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, its content providers nor Capital Group are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Information is calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.

Sours: https://www.capitalgroup.com/individual/investments/fund/cffcx
Are 529's Really the Best Way to Save for College?

What you need to know about 529 education savings plans

It's a fact that the cost of college tuition has continued to rise. Most states have 529 savings plans to help families like yours manage those costs. It's a good idea to educate yourself about these tax-advantaged accounts.

  • Assets grow free from federal and, in many cases, state taxes if withdrawals are used to pay qualified education expenses. Tax-advantaged treatment applies to savings used for qualified education expenses. State tax treatment varies.
  • You (the account owner) control the account and how the money is spent.
  • Anyone can contribute to help you reach your educational goal.

Features and benefits of 529 savings plans

You don’t have to stay local

Most states have a 529 savings plan, including Washington, D.C. But just because you live in a certain state doesn’t mean you’re required to use its 529 savings plan. For instance, CollegeAmerica® is sponsored by the Commonwealth of Virginia, but you can invest in it no matter where you live, as long as it’s in the U.S.

Some states offer additional tax benefits, and each plan features different investment options. So it's a good idea to research which plan fits the needs of your family. 

The earnings from your 529 savings plan aren’t subject to federal tax. Not when they’re in the account and not when you withdraw them either, as long as you use them for qualified education expenses. In addition, depending on your state’s tax regulations, you may be able to deduct some or all of your contributions. These tax advantages apply to qualified education expenses. If withdrawals are used for purposes other than qualified education expenses, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax. States take different approaches to the income tax treatment of withdrawals. For example, withdrawals for K-12 expenses may not be exempt from state tax in certain states.

Learn about qualified education expenses

Your child might be focusing on first steps or Boy Scouts right now, rather than selecting a college major. One of the best things about a 529 savings plan is that it can be used to cover a lot when the time comes, including:

  • Tuition and related fees for college, trade and vocational schools, community colleges, theological seminaries, international schools, study-abroad programs that run through U.S.-eligible schools and more. Any accredited institution should be able to accept funds from a 529 savings plan. Find a list of accredited choices on FAFSA.

  • College room and board.

  • Books and supplies, including textbooks, paper, pens or additional supplies required by specific classes (for example, a camera for a photography class).

  • Computers and supplies, including laptops, printers, educational software and internet services.

  • Certain apprenticeship program expenses.

  • Certain student loan expenses (up to a $10,000 lifetime maximum).

  • K-12 tuition (up to $10,000 a year per beneficiary on qualified expenses). But withdrawals for K-12 expenses may not be exempt from state tax in certain states.

You can always transfer the account to another family member — as long as the new beneficiary is related to the original beneficiary. So, if your first child gets a scholarship and doesn't need all of the funds in her account, you can change the beneficiary to another child to be used for his education goals. Or you can use the money for yourself to get that next degree. You can even choose to hold on to it for a future grandchild.

There are two participants in a CollegeAmerica and other 529 savings plan: the account owner and the beneficiary. Usually the account owner is the parent or grandparent, and the beneficiary is a minor. The account owner maintains and controls the account, making all the decisions about taking withdrawals and changing beneficiaries, for instance, as well as selecting investments. So you, as the owner, have the final say about how and when the money will be used. Better yet, you can easily change the beneficiary and transfer the funds to an eligible family member if a situation arises.

Another great feature: gifting. Anyone can contribute to your child’s 529 savings plan. Most often, grandparents, aunts, uncles and friends enjoy the opportunity to gift a contribution that goes directly to education savings on birthdays and holidays. And when your child starts that first job — even washing cars or babysitting — he can make contributions, too. Every little bit will help.

Here are some key things to know about opening a 529 savings plan:

  • There are no income limits on a 529 savings plan. That means whether your income level goes up or down over the years, it doesn’t affect your eligibility for your 529 savings plan.

  • Any U.S. citizen or resident alien with a valid Social Security number or taxpayer identification number, and who is at least 18 years old can open a 529 savings plan.

  • There are no age limits on beneficiaries. You can do it for a child, a peer, someone older than you, even yourself.

Talk with your financial professional to open an account. You can use our online locator to find a financial professional.

Sours: https://www.capitalgroup.com/individual/planning/college-savings/529-plan-basics.html

Funds 529 american

The CollegeAmerica® 529 education savings plan is trusted by more than a million families

School children raising their hands in class

One of the most effective ways to save for college is with a 529 savings plan. CollegeAmerica is the nation’s largest 529 savings plan,* with more than a million families invested. As a matter of fact, since 2004, CollegeAmerica has consistently been recognized as among America’s best by Morningstar, a premiere investment research company.

The CollegeAmerica difference

Like all 529 savings plans, CollegeAmerica is a tax-advantaged way to save for college tuition and expenses. Your 529 savings plan withdrawals will be free from federal tax as long as you use them for qualified education expenses like room and board, tuition, required books and supplies for higher education. You can also use your 529 plan to pay for K-12 tuition up to $10,000 per year per beneficiary. The cost of certain apprenticeship program expenses is another qualified education expense.

You can even use 529 plans to pay for certain student loan expenses, including the loans of a beneficiary's sibling, up to a $10,000 lifetime maximum.

As long as you use your 529 savings plan funds for qualified education expenses, you'll receive the tax advantages that come with these plans. Your tax treatment may vary, depending on the state you live in. If withdrawals are used for purposes other than qualified education expenses, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax. States take different approaches to the income tax treatment of withdrawals. For example, withdrawals for K-12 expenses may not be exempt from state tax in certain states.

The plan is sold through financial professionals, so you always have someone to help you strategize for college savings. The underlying investments are managed by Capital Group, home of American Funds, which has been helping investors since 1931.

See why CollegeAmerica earns its reputation as one of America’s best education savings plans.

Flexible investment options

You decide how to invest your savings. You can select a target date fund, which automatically adjusts based upon the date you plan to use the funds. You may opt for a pre-built portfolio based upon a common goal. Or you can create a custom portfolio of individual mutual funds.

CollegeAmerica’s fees are among the lowest for advisor-sold 529 college saving plans.So you can keep any tax-free growth your investment earns.

You can open a CollegeAmerica 529 savings plan with as little as $250. Imagine investing that amount when your child is a baby and contributing $50 monthly for the next 18 years. By the time your child is ready for college, you could be well on your way!

In order to open a CollegeAmerica 529 savings plan, you’ll need to speak to a financial professional. Working with a professional is a good idea for all your financial needs, not only college savings. You can use our locator to find a financial professional.

Sours: https://www.capitalgroup.com/individual/what-we-offer/college-america-529.html
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