Ohio 529 College Advantage $25 Bonus for New Accounts

Seeing as we just had another son recently, I have been waiting for Ohio 529 College Advantage plan to bring back the $25 bonus for opening a new account. When we had our first son, we were able to not only score bonus money by opening an account, but also referral bonuses through family and additional automatic investment bonuses. It was nice free money we took advantage of with the Ohio 529 plan.

Credit goes to my sister for finding this deal. I have been watching the site every couple of days to see if they bring back the sign-up bonus offer, but I had not seen any mention of the offer. My sister heard about it yesterday on the radio, and forwarded me the link.

This time there is no promotional code to enter. Per the terms, you will need to open an account between March 21, 2011 and April 30, 2011 with a minimum $25 initial contribution. This is a 100% return on your initial $25 investment. The money grows tax free so long as it is applied towards higher education expenses, and if you live in the State of Ohio, you will get a write-off on your State taxes. Other advantages include being able to change the beneficiary should one of your children decide not to go to college in the future.

Also, the Ohio 529 continues to rank among the best in the nation. Currently they are ranked 5th according to Morningstar.

Seeing as our son is not 6 weeks old yet, we are not able to submit for a social security number to fully open an account. However, College Advantage gives you the option to come back in and add the social security number at a later date, so long as it is within 120 of opening the account. So we opened a new account and set up funding to get our higher education savings plan moving.