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  • SAVING FOR COLLEGE

    We encourage parents, grandparents, and others to contact us for more information about how the Endowment can help you save for your child’s college education. There is no obligation, and we are happy to answer any question that you might have.  Please contact the Endowment at dukesendowment@gmail.com.

    For more information on how the Ohio Tuition Trust’s College Advantage Program works, please visit their web site at www.collegeadvantage.com.

    Saving For College Program FAQ's

    • What is a College Advantage 529 Savings Plan?  Created to encourage families to save for higher education, the 529 plan provides a taxadvantaged way to save.
    • Does my child have to attend higher education in Ohio to use the funds? No. Your student isn't required to attend school in Ohio.
    • What types of higher education can I use a 529 for? Thousands of colleges across the country, including 2-year, 4-year, graduate and technical schools.
    • What can it be used for? Tuition, fees, books, supplies and room and board.
    • How much can I contribute? There are no limits to how much you can contribute to your child's plan. To receive the full match from the Wellington Schools Endowment Fund, contribute $1,000 from January - December.
    • What are the tax advantages? For Ohio taxpayers, contributions to College Advantage 529 may qualify for a deduction from your taxable income.
    • What if my child decides not to pursue higher education and they have a 529 Savings Plan? At any time the account can be transferred to a different beneficiary (sibling, spouse, etc.), if that person is an eligible family member of the original beneficiary. See an investment professional for details.
    • How old can my child be to make contributions? To receive the Wellington Endowment Funds match, students must be enrolled in Wellington Schools and in Kindergarten – 12th grade.
    • Where do I sign up to open a College Advantage 529 Savings Plan? Check with your local bank, investment professional or visit: www.collegeadvantage.com to sign up directly through the state of Ohio.
    • How do I receive the match from the Wellington Schools Endowment Fund?
      • Have a Wellington public school student in grades Kindergarten through twelve
      • Have a College Advantage 529 Savings Plan for that student open through the Ohio Tuition Trust Authority’s College Advantage investment program
      • Invest in the students plan from January - December.
      • The Endowment will provide up to a 25% match on the first $1,000 in contributions made to the student’s Saving for College account. The match may be 15%, 18%, 20% or any amount up to 25%. The percentage of the match will change based on fund availability and participation.  
      • For a contribution that was made from January - December, the statement is due on February 15 of the following year the contribution was made. 
      • Email an annual account statement showing your contributions, due by February 15th each year to:

    dukesendowment@gmail.com.

      • Or mail the statement to:

    Lindley Center Attention: Saving for College Fund, P.O. Box 123, Wellington, OH 44090

     

     

    Wellington is the only school in the state of Ohio offering this plan. It is truly a one-of-a-kind program!