What is the CollegeChoice CD 529 Savings Plan?

CollegeChoice CD 529 Savings Plan is a 529 plan offered by the Indiana Education Savings Authority (Authority), managed by College Savings Bank, a Division of NexBank and offered to residents nationwide. CollegeChoice CD is designed to help individuals and families save for college in a tax-advantaged way and offers valuable advantages including tax-deferred growth, generous contribution limits and a variety of attractive FDIC-insured products from College Savings Bank, a Division of NexBank. In addition, there are no income limits to open an Account or age limits for beneficiaries.

How does CollegeChoice CD work?

When you enroll in CollegeChoice CD, you choose one or more CD Options that invest in one of two FDIC-insured products; the CollegeChoice Fixed Rate CDs with 1-, 2-, or 3-year maturities or the CollegeSure Honors Savings Account. All of the contributions made to your Account grow tax-deferred and the distributions are federal* and Indiana State** tax-free if used for Qualified Expenses.

How many Accounts may I open?

You can open Accounts for as many Beneficiaries as you wish. You may also invest in any of the CD Options offered. Please keep in mind that each Account may have only one Account Owner and one Beneficiary, and you must complete a new Enrollment Form for each Beneficiary.

How do I open an Account?

To open an Account, CollegeChoice CD must receive a completed Enrollment Form, which is a contract between you and the Authority establishing the obligations of each. You may enroll online or by mail. We cannot process the Enrollment Form if any of the required information is not provided. We have the sole discretion to determine whether an Enrollment Form is complete and accepted and whether the Account has been opened.

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