The Ohio CollegeAdvantage 529 Savings Plan is again offering a $25 refer-a-friend bonus if you open an account and deposit at least $25 by May 31, 2009. You can be a resident of any state, and there are no application or annual fees.
First Impressions
My own account with them has been open for a few months, and so far I am quite impressed with the Ohio plan. The website itself is functional and fast, there are a variety of investment choices (cash, index funds, active funds), they are upfront with the fees, and the expenses are very competitive - either the lowest or near the lowest in the nation. The only bad thing I can think of is that every time I make a purchase I get a snail-mail confirmation with no paperless option, which seems wasteful. A more detailed review is upcoming.
I have gotten the $25 bonuses plus several referrals, with no complaints from the people I referred. I have also started an auto-debit from my checking account for $50 a month. Right now, half of my 529 is in the Vanguard inflation-protected bond fund. This is an investment option that is unavailable in most state plans. I feel that since college is only at most 18 years away with a big lump-sum payment, I would prefer less volatility while marching towards that goal. This is in contrast to saving for retirement, where I currently have 35 years until I turn 65, and hopefully another 20 years after that as well.
Referral Bonus Instructions
Both the referred and referree get $25, and I’d love for you to help fund my kid’s college dreams. 
Here’s how:
- You can enroll online or via mail. The online process was quick and easy, and I didn’t have to mail in anything.
- The first step is to input your personal info and choose a login/password. Next, you’ll verify your e-mail and complete the application.
- After that, you’ll choose your funding amount and select an investment fund. Your initial deposit must be a least $25, and is funded using the account/routing numbers of your bank account. At the bottom, you will need to enter a referral code to get the bonus. Enter *.
- In 1-3 days, your initial deposit will be sucked out, and in 5-7 business days you will get your $25 bonus. The $25 will be deposited directly into the 529 account, and will be invested in the same thing as your initial deposit.
I opened the account back in November and got my $25 bonus successfully and as promised:
* Javascript is required. If you can’t see any numbers, please use 2437362 or 2439350. If I receive my maximum number of referrals, I will start putting up reader codes as well to “share the referral love”. If you use the referral code on this page to open your 529 account and wish to be put on this randomly generated list, please contact me directly with your account number. Please do not leave it in a comment.
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