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NEBRASKA

College Savings Plan of Nebraska

Type: Savings

Phone: 888-993-3746

State tax deduction for residents: Deduction for contributions up to $1,000 per year

Open to nonresidents: Yes

Refund provisions: Penalty of 10% of earnings

Minimum/maximum contributions: no minimum / $250,000

Run by Union Bank & Trust, this plan is appealing for its reasonable expenses and large number of investment options. Plus, both in- and out-of-state beneficiaries who plan on attending a Nebraska college are eligible for a contribution from a special endowment. The plan's solid lineup of investments includes four age-based portfolios that would suit most risk levels and six static options. More compelling are the 21 additional mutual funds you can select, including some standouts, such as the Vanguard index funds.

For direct-sold accounts, there's a 0.6% asset-based fee, plus underlying fund fees that range from 0.21% to 0.43% for the blended funds and 0.05% to 1.17% for the single funds. Plus, there's a $5 quarterly fee.

TD Waterhouse College Savings Plan
This plan is similar to the College Savings plan but more expensive. It also offers four age-based portfolios from six core, blended portfolios (100% stocks, 80% stocks, 60% stocks, 40% stocks, 20% stocks and all fixed-income), which can also be selected as stand-alone investments. Or choose from 21 individual funds. Expenses run 0.9% to 2.05%, plus $7.50 per quarter fee.

AIM College Savings Plan
Sold through brokers only, this plan offers an age-based portfolio, three fixed portfolios and 14 individual mutual funds. A relatively aggressive approach (more than 50% stocks up to age 15) has produced below-average performance in the age-based portfolio over three and five years. There are no standouts among the static portfolios.

The mutual fund selections include some solid choices, such as AIM Basic Value, AIM Mid Cap Core Equity and AIM Small Cap Growth. Expenses range from 1.06% to 1.67% for the underlying funds. Plus, there's a $25 fee for accounts less than $50,000.

State College Savings Plans