The Utah Educational Savings Plan was one of four 529 savings plans nationwide to receive a gold medal in an annual review by Morningstar, an investment research firm.
Other gold medal recipients include Maryland College Investment Plan (Maryland), T. Rowe Price College Savings Plan (Alaska) and The Vangaurd 529 College Savings Plan (Nevada).
Gold medals were awarded to savings plans Morningstar felt would be the best for contributors in the long run.
Unlike other plans, Utah’s has no enrollment minumum, according to Morningstar.
Also, people don’t have to be residents of Utah in order to use the plan. Funds from the plan can be used in any university that takes part in federal funding, (not just in Utah), according to UESP.
Funds from the account can be applied to tuition, books and rent, according to UESP.