How to Save for College in the Sweet Sixteen States

Itï ¿ ½s March Madness time! In honor of tonightï ¿ ½s first round of games between the Sweet 16 bracket, weï ¿ ½ve put together a slideshow highlighting the teams by state. Click through to find out how just much tuition costs at your favorite teamï ¿ ½s school. The prices may seem out of reach, and we realize not everyone will get a full ride on a basketball scholarship, so we also listed the 529 college savings plans offered by each state. Donï ¿ ½t worry if the state you live in isnï ¿ ½t home to any winning college basketball teams this year. You can open a 529 plan from almost any state no matter where you live or where your child decides to attend college. Just check your home stateï ¿ ½s plan first to see if they offer any state tax benefits for residents. Start Slide Show (c) Can Stock Photo 1. ARIZONA University of Arizona - Wildcats One-year cost of tuition: $10,581 resident $28,379 non-resident College savings options: Direct-sold plans Arizona Family College Savings Program Fidelity Arizona College Savings Plan Advisor-sold plan Ivy Funds InvestEd Plan Fun state fact: Arizona is one of the six states that offer a tax deduction for residents when they make contributions to in-state or out-of-state 529 plans. Photo credit 2. CALIFORNIA University of California, Los Angeles - Bruins One-year cost of tuition: $12,702 resident $35,580 non-resident College savings options: Direct-sold plan The ScholarShare College Savings Plan Fun state fact: ScholarShare, Californiaï ¿ ½s 529 college savings plan, is running a March Madness sweepstakes on their facebook page until April 6, 2015. California parents, guardians or family members can enter to win one of five pairs of Lillybee U flats and shoe clips, and one grand prize $1,000 scholarship ScholarShare 529 account. Photo credit 3. INDIANA University of Notre Dame ï ¿ ½ Fighting Irish One-year cost of tuition: $46,237 College savings options: Direct-sold plans CollegeChoice 529 Direct Savings Plan CollegeChoice CD 529 Savings Plan Advisor-sold plan CollegeChoice Advisor 529 Savings Plan Fun state fact: The Promise Indiana initiative is a community-driven program designed to promote college savings for young children. Parents are encouraged to open a 529 plan when they register their child for elementary school at back-to-school nights. Photo credit 4. KANSAS Wichita State University - Shockers One-year cost of tuition: $7,267 resident $16,697 non-resident College savings options: Direct-sold plans Learning Quest 529 Education Savings Program (Direct-sold) Schwab 529 College Savings Plan Advisor-sold plan Learning Quest Advisor Fun state fact: Last month, the House passed bill H.R. 529, which was introduced by Kansas Rep Lynn Jenkins to expand the benefits of 529 college savings plans. If passed, the legislation would allow students to use 529 savings to pay for computers, software and Internet service without incurring taxes or penalty. Under current law, these purchases are considered non-qualified unless the school specifically requires them for course enrollment. Photo credit 5. KENTUCKY University of Kentucky - Wildcats One-year cost of tuition: $10,616 resident $22,888 non-resident University of Louisville - Cardinals One-year cost of tuition: $10,432 resident $24,320 non-resident College savings options: Direct-sold plan Kentucky Education Savings Plan Trust Fun state fact: The investment-style 529 college savings plans we know and love were started in Kentucky in 1990. Photo credit 6. MICHIGAN Michigan State University - Spartans One-year cost of tuition: $13,200 resident $34,980 non-resident College savings options: Direct-sold plans Michigan Education Savings Program Michigan Education Trust Advisor-sold plan MI 529 Advisor Plan Fun state fact: The Michigan Education Savings Program sponsors a contest with elementary schools to encourage reading. Students who participate have the chance to win tickets to a Detroit Red Wings hockey game, and the school with the most entries will win a chance to have Red Wind forward Justin Abdelkader read to their class. Photo credit 7. NORTH CAROLINA Duke University One year cost of tuition: $47,488 University of North Carolina Chapel Hill - Tar Heels One year cost of tuition: $8,374 resident $33,624 non-resident North Carolina State University Raleigh - Wolfpack One year cost of tuition: $8,296 resident $23,551 non-resident College savings options: Direct-sold plan National College Savings Program Fun state fact: A bill was recently introduced to the General Assembly of North Carolina that would award high school students with a GPA of 3.5 or higher two free years of at a North Carolina community college. If passed, the High Achieving Tuition Scholarship Program would also require that recipients who maintain a 3.0 or better GPA and who get accepted into a North Carolina University school must be admitted to that school once they finish community college. Photo credit 8. OHIO Xavier University - Musketeers One-year cost of tuition: $33,000 College savings options: Direct-sold plans Ohio CollegeAdvantage 529 Savings Plan Ohio CollegeAdvantage ï ¿ ½ Guaranteed Savings Fund Advisor-sold plan BlackRock CollegeAdvantage 529 Plan Fun state fact: Legislation is currently being considered in Ohio that would increase the state tax benefit for contributions to 529 college savings plans. Currently, the maximum tax deduction amount is $2,000, but if the legislation passes Ohio residents will be able to deduct up to $10,000 per year per beneficiary. Although there is a limit on the tax deduction, there is no annual limit on contributions. Photo credit 9. OKLAHOMA University of Oklahoma - Sooners One-year cost of tuition: $7,695 resident $20,469 non-resident College savings options: Direct-sold plan Oklahoma College Savings Plan Advisor-sold plan Oklahoma Dream 529 Plan Fun state fact: Each year, the Oklahoma College Savings Plan runs a 10,000 Reasons to Save sweepstakes, awarding one elementary school child and the school $10,529. This year, winner fourth grader Olivia Fenimore received the funds in an OCSP account and her school, Mustang Elementary will use the award toward technology and fine arts updates. Photo credit 10. UTAH University of Utah - Utes One-year cost of tuition: $7,935 resident $25,267 non-resident College savings options: Direct-sold plan Utah Educational Savings Plan (UESP) Fun state fact: Savingforcollege.com ranked Utahï ¿ ½s Educational Savings Plan (UESP) as the top performing 529 college savings plan for the ten-year period ending 12/31/14. Photo credit 11. WASHINGTON Gonzaga University - Bulldogs One-year cost of tuition: $36,535 College savings options: Direct-sold plan Guaranteed Education Tuition (GET) Fun state fact: Washingtonï ¿ ½s GET college savings plan offers resources for K-12 schools to educate parents and students on the importance of saving for college tuition, including articles, presentations and brochures. GET representatives will even attend events at the school such as PTA/PTO meetings and parent nights. Photo credit 12. WEST VIRGINIA West Virginia University ï ¿ ½ Mountaineers One-year cost of tuition: $6,960 resident $20,424 non-resident College savings options: Direct-sold plans SMART529 Select SMART529 WV Direct College Savings Plan Advisor-sold plan The Hartford SMART529 Fun state fact: West Virginia residents are eligible to participate in a matching grant program, which provides a dollar for dollar match on contributions to a SMART529 plan up to $500 annually. Photo credit 13. WISCONSIN University of Wisconsin - Badgers One-year cost of tuition: $10,410 resident $26,660 non-resident College savings options: Direct-sold plan Edvest Advisor-sold plan Tomorrowï ¿ ½s Scholar 529 Plan Fun state fact: Each year, the Green Bay Packers and Edvest run the ï ¿ ½Big Apple Giveawayï ¿ ½ sweepstakes, which awards one lucky student a $10,000 college savings account, a trip for four to Chicago for the Packerï ¿ ½s fourth round 2015 draft pick, four Packers jerseys and four tickets to a Packerï ¿ ½s home game. The contest is officially running now through 4/5/15. Photo credit Itï ¿ ½s March Madness time! In honor of tonightï ¿ ½s first round of games between the Sweet 16 bracket, weï ¿ ½ve put together a slideshow highlighting the teams by state. Click through to find out how just much tuition costs at your favorite teamï ¿ ½s school. The prices may seem out of reach, and we realize not everyone will get a full ride on a basketball scholarship, so we also listed the 529 college savings plans offered by each state. Donï ¿ ½t worry if the state you live in isnï ¿ ½t home to any winning college basketball teams this year. You can open a 529 plan from almost any state no matter where you live or where your child decides to attend college. Just check your home stateï ¿ ½s plan first to see if they offer any state tax benefits for residents. Start Slide Show (c) Can Stock Photo 1. ARIZONA University of Arizona - Wildcats One-year cost of tuition: $10,581 resident $28,379 non-resident College savings options: Direct-sold plans Arizona Family College Savings Program Fidelity Arizona College Savings Plan Advisor-sold plan Ivy Funds InvestEd Plan Fun state fact: Arizona is one of the six states that offer a tax deduction for residents when they make contributions to in-state or out-of-state 529 plans. Photo credit 2. CALIFORNIA University of California, Los Angeles - Bruins One-year cost of tuition: $12,702 resident $35,580 non-resident College savings options: Direct-sold plan The ScholarShare College Savings Plan Fun state fact: ScholarShare, Californiaï ¿ ½s 529 college savings plan, is running a March Madness sweepstakes on their facebook page until April 6, 2015. California parents, guardians or family members can enter to win one of five pairs of Lillybee U flats and shoe clips, and one grand prize $1,000 scholarship ScholarShare 529 account. Photo credit 3. INDIANA University of Notre Dame ï ¿ ½ Fighting Irish One-year cost of tuition: $46,237 College savings options: Direct-sold plans CollegeChoice 529 Direct Savings Plan CollegeChoice CD 529 Savings Plan Advisor-sold plan CollegeChoice Advisor 529 Savings Plan Fun state fact: The Promise Indiana initiative is a community-driven program designed to promote college savings for young children. Parents are encouraged to open a 529 plan when they register their child for elementary school at back-to-school nights. Photo credit 4. KANSAS Wichita State University - Shockers One-year cost of tuition: $7,267 resident $16,697 non-resident College savings options: Direct-sold plans Learning Quest 529 Education Savings Program (Direct-sold) Schwab 529 College Savings Plan Advisor-sold plan Learning Quest Advisor Fun state fact: Last month, the House passed bill H.R. 529, which was introduced by Kansas Rep Lynn Jenkins to expand the benefits of 529 college savings plans. If passed, the legislation would allow students to use 529 savings to pay for computers, software and Internet service without incurring taxes or penalty. Under current law, these purchases are considered non-qualified unless the school specifically requires them for course enrollment. Photo credit 5. KENTUCKY University of Kentucky - Wildcats One-year cost of tuition: $10,616 resident $22,888 non-resident University of Louisville - Cardinals One-year cost of tuition: $10,432 resident $24,320 non-resident College savings options: Direct-sold plan Kentucky Education Savings Plan Trust Fun state fact: The investment-style 529 college savings plans we know and love were started in Kentucky in 1990. Photo credit 6. MICHIGAN Michigan State University - Spartans One-year cost of tuition: $13,200 resident $34,980 non-resident College savings options: Direct-sold plans Michigan Education Savings Program Michigan Education Trust Advisor-sold plan MI 529 Advisor Plan Fun state fact: The Michigan Education Savings Program sponsors a contest with elementary schools to encourage reading. Students who participate have the chance to win tickets to a Detroit Red Wings hockey game, and the school with the most entries will win a chance to have Red Wind forward Justin Abdelkader read to their class. Photo credit 7. NORTH CAROLINA Duke University One year cost of tuition: $47,488 University of North Carolina Chapel Hill - Tar Heels One year cost of tuition: $8,374 resident $33,624 non-resident North Carolina State University Raleigh - Wolfpack One year cost of tuition: $8,296 resident $23,551 non-resident College savings options: Direct-sold plan National College Savings Program Fun state fact: A bill was recently introduced to the General Assembly of North Carolina that would award high school students with a GPA of 3.5 or higher two free years of at a North Carolina community college. If passed, the High Achieving Tuition Scholarship Program would also require that recipients who maintain a 3.0 or better GPA and who get accepted into a North Carolina University school must be admitted to that school once they finish community college. Photo credit 8. OHIO Xavier University - Musketeers One-year cost of tuition: $33,000 College savings options: Direct-sold plans Ohio CollegeAdvantage 529 Savings Plan Ohio CollegeAdvantage ï ¿ ½ Guaranteed Savings Fund Advisor-sold plan BlackRock CollegeAdvantage 529 Plan Fun state fact: Legislation is currently being considered in Ohio that would increase the state tax benefit for contributions to 529 college savings plans. Currently, the maximum tax deduction amount is $2,000, but if the legislation passes Ohio residents will be able to deduct up to $10,000 per year per beneficiary. Although there is a limit on the tax deduction, there is no annual limit on contributions. Photo credit 9. OKLAHOMA University of Oklahoma - Sooners One-year cost of tuition: $7,695 resident $20,469 non-resident College savings options: Direct-sold plan Oklahoma College Savings Plan Advisor-sold plan Oklahoma Dream 529 Plan Fun state fact: Each year, the Oklahoma College Savings Plan runs a 10,000 Reasons to Save sweepstakes, awarding one elementary school child and the school $10,529. This year, winner fourth grader Olivia Fenimore received the funds in an OCSP account and her school, Mustang Elementary will use the award toward technology and fine arts updates. Photo credit 10. UTAH University of Utah - Utes One-year cost of tuition: $7,935 resident $25,267 non-resident College savings options: Direct-sold plan Utah Educational Savings Plan (UESP) Fun state fact: Savingforcollege.com ranked Utahï ¿ ½s Educational Savings Plan (UESP) as the top performing 529 college savings plan for the ten-year period ending 12/31/14. Photo credit 11. WASHINGTON Gonzaga University - Bulldogs One-year cost of tuition: $36,535 College savings options: Direct-sold plan Guaranteed Education Tuition (GET) Fun state fact: Washingtonï ¿ ½s GET college savings plan offers resources for K-12 schools to educate parents and students on the importance of saving for college tuition, including articles, presentations and brochures. GET representatives will even attend events at the school such as PTA/PTO meetings and parent nights. Photo credit 12. WEST VIRGINIA West Virginia University ï ¿ ½ Mountaineers One-year cost of tuition: $6,960 resident $20,424 non-resident College savings options: Direct-sold plans SMART529 Select SMART529 WV Direct College Savings Plan Advisor-sold plan The Hartford SMART529 Fun state fact: West Virginia residents are eligible to participate in a matching grant program, which provides a dollar for dollar match on contributions to a SMART529 plan up to $500 annually. Photo credit 13. WISCONSIN University of Wisconsin - Badgers One-year cost of tuition: $10,410 resident $26,660 non-resident College savings options: Direct-sold plan Edvest Advisor-sold plan Tomorrowï ¿ ½s Scholar 529 Plan Fun state fact: Each year, the Green Bay Packers and Edvest run the ï ¿ ½Big Apple Giveawayï ¿ ½ sweepstakes, which awards one lucky student a $10,000 college savings account, a trip for four to Chicago for the Packerï ¿ ½s fourth round 2015 draft pick, four Packers jerseys and four tickets to a Packerï ¿ ½s home game. The contest is officially running now through 4/5/15. Photo credit