Indiana College Costs Estimator

Insights on Investing

Outlined here are several of the most popular investment vehicles currently being used to save for college.  In this summary, you will find some of the unique highlights of each option, the tax incentives (or disincentives) and the current treatment of each according to the Federal Methodology used to determine many forms of need-based aid.  Note: This information is meant to serve as a guide for those considering their college savings options.  Consult your financial planner and/or tax advisor before making any investment decisions.


It is essential to evaluate each option in the context of your anticipated financial aid situation.

  • For those families for which the Expected Family Contribution (EFC) is greater than the cost of attendance at the student’s college or university of choice, the financial aid implications should not be the driving force behind investment decisions since you show no financial need under the Federal Methodology for need-based aid. 
  • For those families who are likely to show financial need at the college or university of choice (meaning the EFC is less than the cost of attendance), the financial aid consequences should be a consideration in many cases. 

Investment Vehicles

Saving for college takes years. Start today. Putting even a little money away each month can make a difference. Check out the savings compounder on this site to estimate what your saved dollars today may mean when it comes time for college!

Indiana CollegeChoice 529 Plan

Indiana taxpayers who contribute to a CollegeChoice 529 account are eligible for a 20% state income tax credit up to $1000 on their contributions.  This extra money in your pocket can be used to pay for expenses at any college of your choice!

Click here for more details on the Indiana 529 Plan