HAWAII

Hawaii TuitionEDGE

Type: Savings

Phone: 866-529-3343

State tax deduction for residents: No

Open to nonresidents: Yes

Refund provisions: Penalty of 10% of earnings

Minimum/maximum contributions: $15 / $297,000

Managed by Delaware Investments, Hawaii TuitionEDGE offers an age-based portfolio and conservative, agressive and balanced portfolios. Delaware has few funds with impressive long-term records. All the offerings in this plan have had below-average returns over the past year.

The plan also offers a savings account option with First Hawaiian Bank. Residents only pay a management fee of 0.95%, but nonresidents must pay a $25 annual maintenance fee if their account balance is less than $100,000. They also might incur additional expenses because they must open accounts through a broker or financial adviser.

State College Savings Plans