Saving for College -- CollegeBoundfundSM
Most of us are aware that the cost of higher education is on the rise – but do you know just how much? According to the American Council of Education between 1987 and 1996, the instructional cost per student at public universities increased 57%. If you look at private four-year colleges and universities over the same period, the increase jumps to almost 70% -- and the costs keep rising.
In an effort to help America’s families shoulder these and related costs, many states now offer Qualified State Tuition Programs (QSTPs), or 529 plans. These tax-advantaged national college savings programs were authorized and created under section 529 of the Internal Revenue Code. Recent tax legislation has further amended the code, enhancing the plans ability to help alleviate these dramatically escalating costs. WFN at Siebert has teamed with Alliance Capital to offer CollegeBoundfundSM, sponsored by Rhode Island, and available to US Citizens. For your convenience, Siebert has arranged for you to deal directly with Alliance Capital which manages the CollegeBoundfundSM. This plan offers everyone – parents, grandparents, friends and family – an opportunity to save today to meet the rising cost of education tomorrow.
Click here to view a comprehensive comparison chart of the CollegeBoundfundSM vs. other 529 plans, custodial accounts (UGMA/UTMA) and educational IRAs.
CollegeBoundfundSM Plan Details:
General Information
Investment Options
Account Materials
Opening an Account
Fees and Expenses
Funding an Account
Frequently Asked Questions
To receive a kit in the mail, or if you have any questions, please call us toll-free at 1-877-WFN-4YOU (1-877-936-4968).
*WFN at Siebert does not provide investment or tax advice. CollegeBoundfundSM is a product of Alliance Capital which acts as investment manager. Alliance Capital Management L.P. and Muriel Siebert & Co. are not affiliated companies. Different 529 plans provide different services, offer different state tax benefits, and carry different costs or fees. Please consult your tax advisor regarding the tax benefits of 529 plans as they relate to your specific situation. Please investigate alternatives to the CollegeBoundfundSM to make sure that it is the right plan for you. Some plans offered in conjunction with a tax-payer's state of residence may offer greater tax advantages and carry lower costs.
A Word About Risk: There is no guarantee that any investment portfolio will achieve its investment goals. The value of your CollegeBoundfundSM account will fluctuate, as the value of the mutual fund shares in which it invests fluctuate, so that your investment, when it is withdrawn, may be worth more or less than its original cost. The investments in CollegeBoundfundSM are not guaranteed by the state of Rhode Island, the Rhode Island Higher Education Assistance Authority, the State Investment Commission, or any instrumentality thereof. Alliance Fund Distributions Inc., the principal underwriter of the Alliance mutual funds and an affiliate of Alliance Capital Management L.P., the manager of the Program and the investment advisor of the mutual funds, is a member of the NASD. In order to meet budgetary constraints under federal law, the provisions of the Tax Relief Act of 2001 are scheduled to sunset after December 31, 2010.
Unless extended, the amendments made by the act will disappear and Section 529 plans withdrawals will no longer be tax-free. CollegeBoundfundSM is a registered trademark of Alliance Capital.
