The office of Ohio 529, CollegeAdvantage, will be closed on Wednesday, Dec. 25, and Wednesday, Jan. 1, 2025, in observance of Christmas and New Year’s Day. Our Customer Service Department will also be closed for the holiday. Ohio 529 Customer Service representatives are available to assist you on regular business days from 8:30 a.m. to 6 p.m. EST before or after the holidays. You can reach them at 1-800-AFFORD-IT (800-233-6734).
While our office may be closed, you can always open an account online over the holiday weekend to start saving for education after high school.
To make a last-minute holiday gift or year-end contribution to an existing account for as little as $25, you can access your account online 24/7.
Online and check contributions must be received by CollegeAdvantage in good order before 4 p.m. EST Tuesday, Dec. 31, to be recorded as occurring in 2024.
Saving made easy with READYSAVE 529 app
You can also make a contribution through the READYSAVE 529 app! You can download the READYSAVE529 app now from the Apple and Google Play app stores. Once you install the app, select Ohio 529 from the list and log in with the same username and password you use to access your account online. With the app, you can contribute directly from your bank account to your Ohio 529 account, all from your smart phone.
Others can give to your Ohio 529 account
Ugift is an easy gift-giving feature with Ohio 529. Offered through Ascensus, our recordkeeping partner, Ugift is an innovative way to invite family and friends to save your children’s’ future college and career training costs when celebrating holidays, birthdays, and special achievements with gift contributions to your CollegeAdvantage Direct Plan account.
After logging in to your Ohio Direct 529 Plan, you can set up an Ugift code to send to our loved ones who would like to give the gift of a education. This code allows others to make online gift contributions directly to your CollegeAdvantage Direct 529 Plan without your account number. Once you provide the Ugift code, friends and family can visit Ugift529.com to make their electronic contribution securely from their bank account. In the READYSAVE 529 app, you can send an Ugift invitation to your family and friends either through a text message, email, Facebook Messenger, Facebook post, or Instagram Message — just in time for the holidays and end-of-year giving.
If your family and friends are Ohio residents, their Ugift contribution must be received in good order before 4 p.m. EST Thursday, Dec. 19, 2024, to be included in their 2024 State of Ohio income tax deduction.
NYSE holiday closures
The New York Stock Exchange (NYSE) will close at 1 p.m. Tuesday, Dec. 24. The NYSE will also be closed Wednesday, Dec. 25, and Wednesday, Jan. 1, 2025. Any transaction requested on a holiday, weekend, or after the NYSE closes will be processed on the next business day.
State income tax deduction
If you have down time during the holidays, you may want to review your Ohio 529 account to ensure you are taking full advantage of all the tax benefits, including the $4,000 annual deduction from your Ohio taxable income as an Ohio resident. Contributions over $4,000 per beneficiary, per calendar year, can be carried forward for deduction in future tax years until all your contributions are fully deducted. New 529 contributions must be received in good order before 4 p.m. EST Tuesday, Dec. 31, 2024, to be included with total contributions for 2024.
Please keep in mind that for the state tax deduction, both the account owner and the gift giver will need to have copies of bank statements or cashed checks for verification. Statements from CollegeAdvantage are not acceptable as they have contributions from all sources, not just the account owner.
Since 1989, Ohio 529, CollegeAdvantage, has been helping families across the nation save for their children’s education after high school. Ohio 529 covers qualified costs at any four-year college or university, two-year community college, trade or vocational school, apprenticeship approved by the U.S. Labor Department, or certificate program nationwide that accepts federal financial aid. Start, add, or give a gift with as little as $25 at CollegeAdvantage.com.
We hope you and your loved ones’ holidays are merry and bright!
