Nebraska 529 College Savings Plan


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Nebraska Educational Savings Plan Trust

Nebraska offers several 529 College Savings Plans, the NEST Direct College Savings Plan, NEST Advisor College Savings Plan, the TD Ameritrade 529 College Savings Plan, and the State Farm College Savings Plan. Each of the plans allow you to save for college expenses the earnings growing tax-deferred and as long as the disbursements are used for aproved educational expenses, they are also federal and state income tax free. Additionally, Nebraska taxpayers can deduct up to $5,000 per year for investments made in one of these Nebraska 529 plans.

Nebraska NEST Direct College Savings Plan

This plan is administered by the First National Bank of Omaha. The program offers four Age-Based Portfolios, three Static Portfolios, and fourteen Individual Mutual Fund Portfolios ranging from aggressive to conservative investment options. The age based portfolios will begin as more aggressive and as the benficiary approaches college age, the funds are transferred to a more conservative set of funds. There are three static portfolios, one conservative, one balanced and one growth. The allocations in these do not change over time. There are also 14 Individal portfolios that range from the very conservative with all funds held in a money market instrument to very aggressive with 100% in stocks and convertible securities. You can get more information at the NEST 529 Direct page.

NEST Advisor College Savings Plan

THis plan offers similiar investment portfolios as the NEST Direct College Savings Plan, but is geared toward those investors who are more comfortable using an investment advisor. There are four Age-Based Portfolios, three Static Portfolios, and fourteen Individual Mutual Fund Portfolios. You can get more information at the NEST 529 Advisor page.

TD Ameritrade 529 College Savings Plan

If you are an online investor, Nebraska has partnered with TD Ameritrade to offer a 529 plan. Included are choices among 4 age-based portfolios, 3 static and 15 Individual Mutual Fund Portfolios. The Nebraska Investment Council has approved each of these investment choices.

The State Farm College Savings Plan

Managed by OFI Private Investments, Inc., the State Farm plan offers 9 investment portfolios. There is an Enrollment-Based option, which includes five Portfolios, and four Static Portfolios. You should also check with a financial advisor and tax advisor to see if a 529 investment is right for you.

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