INDIANA

CollegeChoice 529 Investment Plan

Type: Savings

Phone: 888-814-6800

State tax deduction for residents: No deduction

Open to nonresidents: Yes

Refund provisions: Penalty of 10% of earnings, plus $25 cancellation fee.

Minimum/maximum contributions: $50 / $236,750

Run by OneGroup Mutual Funds, this plan is available only through brokers, even for state residents. Investors have reason to be wary of this plan because OneGroup recently acknowledged having a market-timing arrangement with a hedge fund. The age-based portfolio -- unlike many -- does not grow too conservative too soon: 90% of your money is invested in stocks until your child is age 10, and even at age 17 the mix is 50% stocks and 50% bonds or cash. Or you can choose from four blended funds or eight single-fund portfolios.

With sales charges, expenses are above average, ranging from 0.35% to about 1%. There's also a $10 account fee for state residents; a $30 fee plus a $10 state authority fee for nonresidents.

State College Savings Plans