Connecticut Higher Education Trust

Frequently Asked Questions - Opening an Account, Contributions and Fees

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How do I open an account?
You can Enroll Online and submit your initial contribution electronically from your bank account or establish an Automatic Contribution Plan (PDF, 50KB). You can also Download Enrollment Materials, or you can Request an Enrollment Kit to have enrollment materials mailed to your address. Allow five to seven days for delivery.


Who can open an account?
Any individual with a valid Social Security Number or federal taxpayer identification number who is a U.S. citizen or resident alien can open an account and contribute to CHET on behalf of any beneficiary. The beneficiary must have a valid Social Security Number or federal taxpayer identification number and be a U.S. citizen or resident alien. An organization described in Section 501(c)(3) of the Internal Revenue Code, an estate or a trust may also open an account. Such entities will be subject to additional restrictions or administrative requirements. You can even open an account for yourself. Open An Account.


How do I contribute to CHET?
There is a low minimum contribution of $25 per check, money order or electronic funds transfer. You may also contribute through an Automatic Contribution Plan. You can contribute as little as $15 per investment option per pay period using payroll deduction through participating employers. Each account can have only one account owner and one beneficiary. However, each beneficiary may have more than one account and, you may open separate accounts for as many different beneficiaries as you wish. To set up an automatic contribution plan, log in to your account or use the Electronic Banking Form (PDF, 157KB). To set up Payroll Deduction, use the Payroll Deduction Form (PDF, 95KB).


What is the maximum that I can contribute to an account?
There is no annual limit on the amount you may contribute. However, there is an overall maximum account balance limit of $300,000 which applies to all accounts opened for a beneficiary. An account owner may contribute to a beneficiary's account if, at the time of the contribution, the total balance of all accounts for that beneficiary does not exceed $300,000. Accounts that have reached the Maximum Account Balance Limit may continue to accrue earnings.


Can I take a distribution from both a CHET and Coverdell Educations Savings Account to pay for expenses in the same year?
Yes. However, you must apply the distributions to different eligible expenses in order to obtain the favorable tax treatment. See IRS Publication 970 for more detail.


Are there any fees associated with opening a CHET account?

With CHET, there are no sales charges, start-up or maintenance fees. TIAA-CREF, Tuition Financing, Inc. is paid an annual asset-based management fee to cover the cost of investment management, administrative services, the state fee plus the specific fees for the underlying mutual funds. TFI is an affiliate of TIAA-CREF Individual & Institutional Services, LLC, the distributor for CHET. For each Investment Option (with the exception of the Principal Plus Interest Option) the total of these fees will not exceed 0.65% of the average daily net assets of the trust. There is no fee for the Principal Plus Interest Option.

The Treasurer of the state of Connecticut, acting as Trustee for CHET, collects a state fee of 0.01% of the average daily net assets of the Trust annually to pay for expenses related to the oversight of the Trust. This state fee applies each Investment Option (with the exception of the Principal Plus Interest Option). See fee table and sample investment cost. Please note, however, that the State reserves the right to change the current fee and impose new or additional fees, expenses, charges, or penalties in the future.


How do I keep track of my account?
You have online access to your account information 24 hours a day, or you can call and speak to one of our college-savings experts at 1-888-799-CHET (2438) Monday through Friday, 8:00 am - 11:00 pm Eastern Time. You'll receive quarterly and annual statements that show account activity. A separate statement will also be mailed, which lists every transaction made to the account. (Quarterly statements will be provided for periodic payment plans, such as payroll deduction.) Access Your Account.


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Have a question you don't see listed? Need clarification?

Call us toll-free at
1-888-799-CHET (2438)

We're available 8:00 am - 8:00 pm Eastern Time, Monday - Friday.


Don't forget you can set up an Automatic Contribution Plan (PDF, 157KB) or use Payroll Deduction (PDF, 45KB) for your contributions (if offered by your employer). If you are a State of Connecticut employee, use the Connecticut State Employee Payroll Deduction form (PDF, 75KB).

PDF files require the free Adobe Acrobat Reader. Get it here.


Access our glossary for the meanings of terms used throughout this site.

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The tax information contained on the Connecticut Higher Education Trust (the Plan) Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

The Plan is administered by the Connecticut State Treasury. TIAA-CREF Tuition Financing, Inc. (TFI) serves as Program Manager. TFI's affiliate, TIAA-CREF Individual & Institutional Services, LLC, is the distributor.

The investment approaches described are not recommendations and do not take into consideration personal goals or preferences. After evaluating information you consider important in making an investment choice, the ultimate decision is up to you. It is a good idea to revisit your investment strategy periodically as your goals, personal financial situation, and market conditions change.

Consider the investment objectives, risks, charges and expenses before investing in the Plan. Please call toll-free 1-888-799-2438 for a Disclosure Booklet containing this information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.

The State of Connecticut, its agencies, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return. Account value will fluctuate based upon a number of factors, including general market conditions.

The Plan Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.

The Plan Web site contains links to other Web sites. Neither the Plan Trust nor TFI and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.

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