Office of State Treasurer
Denise L. Nappier
CHET - Connecticut's 529 College Savings Program
To help families save for college, the State of Connecticut offers the Connecticut Higher Education Trust (CHET), Connecticut’s 529 College Savings Plan. CHET is a tax-advantaged, low cost savings program specifically designed to help families save for future college costs. The funds can be used at accredited colleges and universities across the country, including vocational and technical schools, and some colleges abroad.
A CHET account may be opened with as little as $25, and contributions can be made using automatic deposit from checking or savings accounts or payroll deduction through participating employers. The CHET program web site www.aboutchet.com (haga clic aquí para español), offers on-line enrollment and describes the range of CHET investment options. A CHET account can be opened by any individual, including a grandparent, family friend or neighbor.
Three GREAT Reasons to Check CHET Out!
1. Connecticut State Tax Deduction!
As a result of a proposal and action taken by State Treasurer Denise L. Nappier back in 2006 Connecticut offers a state income tax deduction for contributions made to a CHET account - up to $5,000 per taxpayer or $10,000 for taxpayers filing jointly. Please click CHET Disclosure Booklet to download a PDF file to read for more information.
2. Low Fees – Among the Lowest in the Country!
With CHET, there are no sales charges, start-up or maintenance fees. The total asset-based fee (program management fee of 0.18%, plus cost of underlying funds plus state oversight) ranges from 0.29% to 0.87% of the average daily net assets of the CHET program depending upon the investment option selected. The Principal Plus Interest Option does not have a program management fee.
3. A Variety of Investment Options to Help You Save!
CHET offers eleven investment options, which vary in their investment strategy and degree of risk, allowing you to select an option or combination of options that best fit your higher education saving needs and investment philosophy.
CHET Challenges Connecticut Students to Dream Big!
2013 Dream Big! Competition
The 2013 CHET Dream Big! Drawing and Essay Competition wrapped up on March 22nd. This year we received more than 2,250 amazing entries from Connecticut kids in grades K-5, telling us what they will do and how they will change the world after they go to college. It was very difficult to select the winners, because all the entries were so good! Congratulations to all the entrants, and to this year’s winners.
There were 93 winners, who were honored during an awards ceremony on May 16 at Rentschler Field in East Hartford, CT. The parents or legal guardians of the student winners were each awarded a $300 contribution to a CHET direct-sold account. Additionally, $50 gift cards were awarded to the first 100 teachers who submitted student entries.
Click here to view the winning entries, and photos from this year’s ceremony.
The CHET Dream Big! Competition is designed to encourage families to start thinking about how higher education may help their children realize their dreams and make a difference in the world, and to promote the importance of saving for college early through a CHET account.
To see photos of Connecticut State Treasurer Denise L. Nappier with last year’s winners, visit www.chetdreambig.com/news.php.
Learn more about the advantages of saving for college with CHET!
CHET Annual Report
CHET Yearly Advisory Board Meeting Minutes