Contribution Limits:
The Alaska T. Rowe Price College Savings Plan can be opened with a $250 initial deposit or with a minimum of $50 per month into their automatic investment plan.The plan has one of the higher “lifetime" contribution limits at $320,000 per beneficiary. While this is an attractive feature for the wealthiest of investors, it doesn’t offer much benefit to most parents.
As with all Section 529 plans, parents and other donors need to be aware of the Federal gift and estate taxes consequences of giving more than $12,000 per donor, to any one beneficiary in one calendar year.
The T. Rowe Price College Savings Plan can also be used by corporations, non-profit agencies, and trusts to create accounts similar to a “scholarship fund.”
Plan Partnerships:
The Alaska T. Rowe Price College Savings Plan does not currently have any formal partnerships with rewards program like UPromise or BabyMint. This is one of the things that keep this plan from receiving the highest score possible.
