MISSOURI

Missouri Saving for Tuition Program

Type: Savings

Phone: 888-414-6678

State tax deduction for residents: Deduction for contributions up to $8,000 per year ($16,000 for couples)

Open to nonresidents: Yes

Refund provisions: Penalty of 10% of earnings

Minimum/maximum contributions: $25 / $235,000

Other: You must wait one year to make withdrawals

The investment choices in this TIAA-CREF plan are limited and lacking fixed-income and balanced options. The age-based portfolio has outearned its peers slightly over the past year. Even the all-stock portfolio is conservative, with 80% in a growth-and-income fund. There's also an interest-bearing option that currently pays 4.4%, with a 3% minimum guarantee. Fees are super-low at 0.65%.

Missouri residents can take advantage of a state-tax deduction of up to $8,000 per year ($16,000 for married couples).

State College Savings Plans