Welcome to the DC College Savings Plan, an education savings program with special advantages to help families and friends prepare now for the rising costs of higher education. As District Treasurer, it is my goal to make the DC College Savings Plan one of the most outstanding education savings opportunities available to you.
The DC College Savings Plan is open to everyone in the nation. Your money in the Plan can be used at any qualified higher education institution, such as a community college, technical school, undergraduate, or graduate school.
By investing through the Plan, your earnings will grow free of federal and state taxes, which means your money has greater growth potential over time compared to traditional taxable accounts. In addition, when you withdraw money from your account to pay for qualified higher education expenses, the money remains free of federal and District of Columbia income taxes, as well as income taxes in most other states.
District of Columbia residents are afforded an additional tax benefit. A resident may deduct up to $3,000 in contributions to his/her account from the federal adjusted gross income reported on his/her District income tax return each year.1
The DC College Savings Plan also features low initial investment minimums, a high contribution allowance, and no income requirements. You may choose to invest your contributions in a variety of investment options. So perhaps it's no surprise that 5,800 people currently have more than $50 million invested for college costs through the Plan.
The Government of the District of Columbia has selected Calvert Asset Management Company, Inc., headquartered in Bethesda, Maryland, as Program Manager for the Plan. With nearly 30 years of experience and more than $11 billion in assets, Calvert is one of the most established financial services firms in Greater Washington and a recognized leader in offering socially responsible mutual funds.
To learn more about the DC College Savings Plan, I encourage you to take advantage of the wealth of information available on this Web site. If you have questions or need assistance with your enrollment in the Plan, call Calvert directly at 1-800-987-4859 (District residents) or 1-800-368-2745 (non-District residents) between 9 a.m. and 5:30 p.m. Eastern time, Monday through Friday. Or, if you work with a financial advisor, make sure to ask your advisor about the Plan today.
Thank you for considering the DC College Savings Plan as your choice for making college more affordable for someone you love.
Sincerely,
Lasana K. Mack
Deputy Chief Financial Officer and Treasurer
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For more information on the DC College Savings Plan, please contact your financial advisor or call 800.987.4859 (800.368.2745 for non-District residents). An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The District of Columbia College Savings Trust Program Disclosure Booklet contains this and other information. Read it carefully before you invest or send money. An investor should also consider, before investing, whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's 529 college savings plan. Important Legal Information | Privacy Statement | Business Continuity Plan
© 2008 Government of the District of Columbia, Office of the Chief Financial Officer, Office of Finance and Treasury. The DC College Savings Plan is underwritten and distributed by Calvert Distributors Inc., member NASD/SIPC,
a subsidiary of Calvert Group, Ltd., a UNIFI CompanySM. Contact Us
1-800-368-2745 |