529 College Savings Plan | Connecticut Higher Education Trust (CHET)

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Account details

Account maximum	$300,000 per beneficiary*
Plan application & fact kit	View the plan Fact Kit (PDF) and download the application and supporting documents.

Investment choices and performance

Investment options	Learn more about the investment options available for your CHET account. You can change the investment instructions on your future contributions at any time. But under federal tax rules governing 529 plans, you can reallocate your current plan's investments only twice per calendar year or whenever you change beneficiaries, without incurring federal taxes.
Investment expenses	Fees vary, depending on your investment strategy: 0.11%–0.20% (Fidelity Index Funds) 0.40%–0.60% (Fidelity Blend) 0.50%–0.99% (Fidelity Funds) 0.05%–0.50% (Bank Deposit Portfolio) For fee details, please view the plan Fact Kit (PDF), starting on page 26.
Plan performance	View information on the funds' short-term performance since inception date of February 2, 2021 (when the funds were established at Fidelity), or average annual total returns by month or by quarter. Portfolio composition, including underlying fund(s) and asset allocations, can be viewed online under the Compositions tab, or in the CHET Fact Kit (PDF), starting on page 48. This CHET Program investment guide (PDF) provides information about investment options, transition mapping, performance details, fees and more. Visit MSRB.org for the most recent annual report.

Flexible use of funds

Postsecondary expenses	Money withdrawn from the 529 plan account can be used for a wide range of qualified higher education expenses, such as room and board, tuition, books, and computer equipment.
K-12 expenses	In addition to college expenses, you can also spend up to $10,000 per year on tuition expenses for elementary, middle, and high school—private, public, or religious.
Other higher education expenses	Effective January 1, 2019 qualified distributions can also include repayment of up to $10,000 in qualified student loans, and expenses for certain apprenticeship programs.
Up to $10,000 over the lifetime of the beneficiary or sibling of the beneficiary.

Tax advantages

Earnings	Any earnings grow federal and Connecticut income tax-deferred.
Contributions	Contributions are deductible for Connecticut income tax purposes up to $5,000 per year for a single return or $10,000 per year for a joint return. If you exceed this amount, you can carry over the excess amount for the 5 taxable years following the deduction.
Withdrawals	Qualified withdrawals are free from both federal and Connecticut income taxes.

The Connecticut Higher Education Trust 529 College Savings Program

Why open a CHET account?

Getting started is easy

We're here to help

About the State of Connecticut and additional programs offered by CHET

Connecticut Office of the Treasurer Shawn T. Wooden

Baby Scholars

Dream Big Competition

Security you can count on

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Account details

Investment choices and performance

Flexible use of funds

Tax advantages

Mutual Funds and Mutual Fund Investing - Fidelity Investments

The Connecticut Higher Education Trust 529 College Savings Program

Why open a CHET account?

Getting started is easy

We're here to help

About the State of Connecticut and additional programs offered by CHET

Connecticut Office of the Treasurer Shawn T. Wooden

Baby Scholars

Dream Big Competition

Security you can count on

¿Necesitas ayuda en español?

We're here to help

Stay Connected

Account details

Investment choices and performance

Flexible use of funds

Tax advantages