Free $25 Starter Bonus with the Best 529 Savings Plan: Ohio CollegeAdvantage

Birthdays, holidays, first day of school, good grades... my kids are always getting money from their grandparents for special occasions. Recently, my wife and I decided to open a college savings plan otherwise known as a 529 savings plan for the kids. To learn more about the 529 college savings plan for your kids or future children, click here.

The tax advantages of a 529 savings plan are appealing, and The Ohio CollegeAdvantage plan gives the perfect combination of a good plan with a great variety of investment options and some of the lowest fees in the nation.

Recently rated the "Best 529 College Savings Plan" by Morningstar, this plan is currently offering a $25 bonus refer-a-friend promotion for those who open up an account and deposit at least $25 by December 15, 2009. You do not have to be a resident of Ohio to take part in this program.

So if you have kids or plan on having kids, get a jump on funding their college expenses by opening this great plan. To get the $25 referral bonus, the process will take just a few minutes:

1. Open up a new account before by December 15, 2009 and enter in your information with Ohio CollegeAdvantage.
2. Choose your investment fund and amount (you will need to deposit at least $25 to qualify for the bonus)
3. For the $25 bonus, be sure to enter in the referral code: 2505466
   
4. Wait 2-3 business days for the account to be verified and opened.

The benefits of a 529 plan are many:

1. Earnings are tax-free if funds are used for college.
2. Funds can be used at any college in the country to pay for tuition, room and board, or books.
3. Contributions can be made for as little as $25 at a time and can be made automatically through your bank account, payroll deduction or online.
4. CollegeAdvantage offers a wide variety of investment options managed by leading financial firms, and you can also save with FDIC-insured bank products.
5. There are no enrollment fees, no maintenance fees and low administrative fees.
6. CollegeAdvantage offers flexibility allowing you to transfer funds to another child, withdraw funds at any time and change investment options.

If you have multiple kids like myself, you could then use your newly opened account's referral code to refer other siblings and receive the $50 referral bonus as stated on their website:

Q. I currently have two CollegeAdvantage accounts, but have not yet opened an account for my third child. Can I receive a referral bonus for opening a new account for my own child?

A. Yes, you would receive a $50 referral bonus for one of your existing accounts (whichever one you used as the referral code) and a $25 referral bonus for the new account. Simply complete the referral bonus section on either the online or paper application when you open the new account.