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 SSB. In addition, there are no income limits to open an Account or age limits for beneficiaries.
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.
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.
When you enroll in CollegeChoice CD, you choose one or more CD Options that invest in one of three FDIC-insured products; the CollegeChoice CollegeSure® Certificate of Deposit (CD), CollegeChoice InvestorSure® CD or CollegeChoice Fixed Rate CDs, based upon your investing preferences and risk tolerance. Each CD product offers different terms and conditions, including rate of return and maturity. All of the contributions made to your Account grow tax-deferred and the distributions are federally* and Indiana State** tax-free if used for Qualified Expenses.