You Have Options When Investing for the Future

Two Smart Ways to Make Saving for College Easier

Few things in life are one size fits all. Saving for education is no exception. Whether school is fast-approaching or you've got years ahead to save, we offer a range of professionally managed portfolio options.

Enrollment-Based Portfolios
The Enrollment-Based Portfolios are target date investments composed of one or more T. Rowe Price stock and bond mutual funds.1 These portfolios’ investments are aligned with a projected enrollment year and automatically shift as your target date approaches.

See how the funds’ allocations adjust over time.

With the goal of maximizing growth potential, the investment mix is more aggressive the further away the target date is and, therefore, has a greater exposure to stocks. Over time, as the target date gets closer, the underlying investments adjust to include higher percentages of fixed income funds in an effort to reduce risk and volatility.
Select a portfolio below or choose the number of years until you will first use your savings.
Portfolio
2039
Portfolio
2039
100% Stocks
This aggressiveAn investment portfolio that attempts to increase returns by holding securities with a relatively higher degree of risk. This strategy often involves allocating most holdings to stocks. equity portfolio will seek long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings." by broadly investing in funds primarily focused on domestic equityFunds that invest in stocks of companies based in the United States. markets, with some exposure to international equity markets. The strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. Due to the long time horizon until expected enrollment, this portfolio will initially have the same allocations as Portfolio 2036, although its allocations will begin to shift and become more conservativeAn investment portfolio that attempts to preserve its capital by holding securities with a relatively lower degree of risk. This strategy often involves allocating most holdings to bonds and/or money market investments. three years later than Portfolio 2036. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Portfolio
2036
Portfolio
2036
100% Stocks
This aggressiveAn investment portfolio that attempts to increase returns by holding securities with a relatively higher degree of risk. This strategy often involves allocating most holdings to stocks. equity portfolio seeks long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings." by broadly investing in funds primarily focused on domestic equityFunds that invest in stocks of companies based in the United States. markets, with some exposure to international equity markets. The strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page..
Portfolio
2033
Portfolio
2033
87.5% Stocks
12.5% Bonds
This aggressiveAn investment portfolio that attempts to increase returns by holding securities with a relatively higher degree of risk. This strategy often involves allocating most holdings to stocks. equity portfolio seeks long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings." by broadly investing in funds primarily focused on domestic equityFunds that invest in stocks of companies based in the United States. markets, with some exposure to international equity markets. The strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Portfolio
2030
Portfolio
2030
72.25% Stocks
27.75% Bonds
This equity portfolio seeks long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings." by broadly investing in funds focused on domestic and international equity markets, with some exposure to fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities.. The strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Portfolio
2027
Portfolio
2027
56.5% Stocks
43.5% Bonds
This balanced portfolio invests in both stocksShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. and fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities. instruments, with a higher exposure to stocks. The portfolio invests in both domestic and international equity markets. This mix of funds offers reduced exposure to equitiesShares of a specific company that are available for public purchase. Equities are also referred to as stocks.Shares of a specific company that are available for public purchase. Equities are also referred to as stocks. while diversifying in fixed income markets to reduce the risk and volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. typically associated with equity markets. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Portfolio
2024
Portfolio
2024
40% Stocks
60% Bonds
This balanced portfolio invests in an approximately equal mix of stocksShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. and fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities. instruments. The portfolio invests in both domestic and international equity markets. This mix of funds offers reduced exposure to equitiesShares of a specific company that are available for public purchase. Equities are also referred to as stocks. while diversifying in fixed income markets to reduce the risk and volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. typically associated with equity markets. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Portfolio
2021
Portfolio
2021
22.75% Stocks
77.25% Bonds
This portfolio invests primarily in fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities. instruments with some exposure to stocksShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. . For diversification and some capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings.", the portfolio may also invest a small component in international equity markets. This mix of funds offers reduced exposure to equitiesShares of a specific company that are available for public purchase. Equities are also referred to as stocks. while diversifying in fixed income markets to reduce the risk and volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. typically associated with equity markets. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Portfolio for
Education
Today*
Portfolio for
Education
Today*
20% Stocks
80% Bonds
This portfolio is designed for beneficiariesThe future student designated by an account holder to receive the benefit of an account. who are already enrolled or are about to enroll in school. Emphasizing a mix of high-quality fixed incomeGenerally-conservative government and corporate-issued bonds and other fixed instruments that have been highly rated by credit ratings agencies and are expected to have a relatively low risk of encountering financial problems and are expected to make their interest or principal payments on schedule.Generally-conservative government and corporate-issued bonds and other fixed instruments that have been highly rated by credit ratings agencies and are expected to have a relatively low risk of encountering financial problems and are expected to make their interest or principal payments on schedule. investments, this portfolio also maintains an approximate 20% allocation to stockShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. funds with a primary focus on domestic equityFunds that invest in stocks of companies based in the United States.. There is exposure to international stocks as well. The portfolio seeks to generate income—at a time when a beneficiary may be taking distributions from an account for education expenses—while also aiming to provide portfolio growth that meets or exceeds tuition inflation. There is no guarantee the portfolio will provide adequate income, and you could experience losses near, at, or through enrollment. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
*Effective November 15, 2019, Portfolio for College was renamed to Portfolio for Education Today to more accurately describe the portfolio’s design for beneficiaries who are already enrolled or about to enroll in school. This is a name change only.
Portfolio 2039
This aggressiveAn investment portfolio that attempts to increase returns by holding securities with a relatively higher degree of risk. This strategy often involves allocating most holdings to stocks. equity portfolio will seek long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings." by broadly investing in funds primarily focused on domestic equityFunds that invest in stocks of companies based in the United States. markets, with some exposure to international equity markets. The strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. Due to the long time horizon until expected enrollment, this portfolio will initially have the same allocations as Portfolio 2036, although its allocations will begin to shift and become more conservativeAn investment portfolio that attempts to preserve its capital by holding securities with a relatively lower degree of risk. This strategy often involves allocating most holdings to bonds and/or money market investments. three years later than Portfolio 2036. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
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Portfolio 2036
This aggressiveAn investment portfolio that attempts to increase returns by holding securities with a relatively higher degree of risk. This strategy often involves allocating most holdings to stocks. equity portfolio seeks long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings." by broadly investing in funds primarily focused on domestic equityFunds that invest in stocks of companies based in the United States. markets, with some exposure to international equity markets. The strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Next Portfolio
Portfolio 2033
This aggressiveAn investment portfolio that attempts to increase returns by holding securities with a relatively higher degree of risk. This strategy often involves allocating most holdings to stocks. equity portfolio seeks long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings." by broadly investing in funds primarily focused on domestic equityFunds that invest in stocks of companies based in the United States. markets, with some exposure to international equity markets. The strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
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Portfolio 2030
This equity portfolio seeks long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings." by broadly investing in funds focused on domestic and international equity markets, with some exposure to fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities.. The strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Next Portfolio
Portfolio 2027
This balanced portfolio invests in both stocksShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. and fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities. instruments, with a higher exposure to stocks. The portfolio invests in both domestic and international equity markets. This mix of funds offers reduced exposure to equitiesShares of a specific company that are available for public purchase. Equities are also referred to as stocks. while diversifying in fixed income markets to reduce the risk and volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. typically associated with equity markets. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Next Portfolio
Portfolio 2024
This balanced portfolio invests in an approximately equal mix of stocksShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. and fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities. instruments. The portfolio invests in both domestic and international equity markets. This mix of funds offers reduced exposure to equitiesShares of a specific company that are available for public purchase. Equities are also referred to as stocks. while diversifying in fixed income markets to reduce the risk and volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. typically associated with equity markets. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Next Portfolio
Portfolio 2021
This portfolio invests primarily in fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities. instruments with some exposure to stocksShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. . For diversification and some capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings.", the portfolio may also invest a small component in international equity markets. This mix of funds offers reduced exposure to equitiesShares of a specific company that are available for public purchase. Equities are also referred to as stocks. while diversifying in fixed income markets to reduce the risk and volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. typically associated with equity markets. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Next Portfolio
Portfolio for Education Today*
This portfolio is designed for beneficiariesThe future student designated by an account holder to receive the benefit of an account. who are already enrolled or are about to enroll in school. Emphasizing a mix of high-quality fixed incomeGenerally-conservative government and corporate-issued bonds and other fixed instruments that have been highly rated by credit ratings agencies and are expected to have a relatively low risk of encountering financial problems and are expected to make their interest or principal payments on schedule. investments, this portfolio also maintains an approximate 20% allocation to stockShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. funds with a primary focus on domestic equityFunds that invest in stocks of companies based in the United States.. There is exposure to international stocks as well. The portfolio seeks to generate income—at a time when a beneficiary may be taking distributions from an account for education expenses—while also aiming to provide portfolio growth that meets or exceeds tuition inflation. There is no guarantee the portfolio will provide adequate income, and you could experience losses near, at, or through enrollment. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
*Effective November 15, 2019, Portfolio for College was renamed to Portfolio for Education Today to more accurately describe the portfolio’s design for beneficiaries who are already enrolled or about to enroll in school. This is a name change only.
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Static Portfolios
Static Portfolios are fixed investments composed of one or more T. Rowe Price mutual funds.2 Unlike Enrollment-Based Portfolios, Static Portfolios do not change their investment mix over time. Portfolios with greater stock allocations generally carry higher risk and the opportunity for higher returns, while portfolios with more bond and money market funds generally offer less risk and lower returns. You can move your assets to a more conservative or aggressive portfolio up to two times per year per beneficiary.
Select a portfolio below to learn more
Select a portfolio to learn more
Total Equity
Market
Portfolio
100% Stocks
This portfolio invests exclusively in the T. Rowe Price Total Equity Market Index Fund. The Total Equity Market Index FundA type of mutual fund that is designed with the goal of replicating a particular hypothetical portfolio of stocks or bonds representing some defined area of the financial market. is a passively managedAn investment strategy that seeks to replicate a market index or benchmark without additional consideration of a portfolio manager. Index funds are examples of passive management. fund that seeks to closely track its benchmarkA specified comparison used to evaluate the investment return, risk, and asset allocation of a portfolio., the S&PAn abbreviation for Standard & Poor’s®, a company that provides many financial market indexes. The most well-known is the S&P 500® Index, which tracks 500 of the largest publicly traded companies in the United States. Total Market Index. The fund is passively managed, so it generally does not reallocate its holdings based on changes in market conditions or outlook. As a result, its expenses are typically lower than the expenses of an actively managed fund. The fund seeks to match the performance of the entire U.S. stockShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. market as represented by the S&P Total Market Index but does not attempt to fully replicate the index by holding each of those stocks. Index investing can provide a convenient and relatively low-cost way to approximate the performance of a particular market, but it may not offer the flexibility to shift assets toward stocks or sectors that are rising or away from stocks or sectors that are declining. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
The S&P Total Market Index is a product of SPDJI and has been licensed for use by T. Rowe Price. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by T. Rowe Price.
Equity
Portfolio
100% Stocks
Emphasizing long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings.", this all-equity portfolio invests in a broad range of funds focused on domestic equityFunds that invest in stocks of companies based in the United States. markets, with some exposure to international equity markets. It is designed for Account Holders who want a broadly diversified portfolio of primarily actively managed mutual fundsA company that combines the money of many investors into a professionally-managed portfolio of stocks, bonds, and/or other securities. Each investor shares in the gain or loss of earnings in the mutual fund. that does not become more conservativeAn investment portfolio that attempts to preserve its capital by holding securities with a relatively lower degree of risk. This strategy often involves allocating most holdings to bonds and/or money market investments. over time. Because this portfolio invests in many underlying funds, it will have partial exposure to the risks of different areas of the market. This strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Fixed
Income
Portfolio
100% Bonds
This portfolio’s primary objective is to seek a high level of current income with moderate price fluctuations by investing exclusively in the T. Rowe Price Spectrum Income Fund, which invests in a diversified group of other T. Rowe Price mutual fundsA company that combines the money of many investors into a professionally-managed portfolio of stocks, bonds, and/or other securities. Each investor shares in the gain or loss of earnings in the mutual fund.. The fund, which invests in a variety of domestic and international bondAn investment in which an investor loans money to an entity such as a corporation or government. The entity borrows the funds for a defined period of time and repays the loaned amount along with the predetermined interest. funds, a money market fundA mutual fund that invests in highly liquid, short-term instruments such as U.S. Treasuries., and an income-oriented stockShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. fund, seeks to maintain broad exposure to several markets in an attempt to reduce the impact of declining markets and to benefit from good performance in particular market segments over time. The portfolio is subject to interest rate risk, credit risk, asset allocationThe division of a portfolio among various asset classes including stocks, bonds, and money market investments. An investor can include multiple portfolios to produce a desired overall combination or consider one portfolio that combines various assets to achieve the desired outcome. risk, liquidity risk, international investing risk, emerging markets risk, and dividend-paying stock risk. The strategy is based on a lower-risk investment approach that seeks to conserve principal and generate a reasonable level of return while minimizing the risks associated with equity markets. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Balanced
Portfolio
60% Stocks
40% Bonds
This moderately aggressiveAn investment portfolio that attempts to increase returns by holding securities with a relatively higher degree of risk. This strategy often involves allocating most holdings to stocks. portfolio focuses on a mix of approximately 60% of its holdings invested in stocksShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. , including some exposure to international stocks, while seeking diversification through approximately 40% of its holdings allocated to fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities.. This strategy is based on accepting the risks associated with stocks, which have the potential to provide high returns, and seeking to balance the effects of volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. through diversification in fixed income securities. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Money
Market
Portfolio
100% Money Market
This portfolio invests exclusively in the T. Rowe Price U.S. Treasury Money Fund, which is a money market fundA mutual fund that invests in highly liquid, short-term instruments such as U.S. Treasuries. managed to provide a stable share price of $1.00 by investing short-term, high-quality securities backed by the U.S. government and repurchase agreements thereon. This Portfolio is designed for account holders who are conservativeAn investment portfolio that attempts to preserve its capital by holding securities with a relatively lower degree of risk. This strategy often involves allocating most holdings to bonds and/or money market investments. investors or who have a beneficiaryThe future student designated by an account holder to receive the benefit of an account. nearing enrollment. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
You could lose money by investing in this portfolio. Although the money market fund in which this portfolio invests seeks to preserve its value at $1.00 per share, the underlying money market fund cannot guarantee that it will do so. An investment in this portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The underlying money market fund's sponsor has no legal obligation to provide financial support to the underlying fund, and you should not expect that the sponsor will provide financial support to the underlying money market fund at any time.
Total Equity Market Portfolio
This portfolio invests exclusively in the T. Rowe Price Total Equity Market Index FundA type of mutual fund that is designed with the goal of replicating a particular hypothetical portfolio of stocks or bonds representing some defined area of the financial market.. The Total Equity Market Index Fund is a passively managedAn investment strategy that seeks to replicate a market index or benchmark without additional consideration of a portfolio manager. Index funds are examples of passive management. fund that seeks to closely track its benchmarkA specified comparison used to evaluate the investment return, risk, and asset allocation of a portfolio., the S&PAn abbreviation for Standard & Poor’s®, a company that provides many financial market indexes. The most well-known is the S&P 500® Index, which tracks 500 of the largest publicly traded companies in the United States. Total Market Index. The fund is passively managed, so it generally does not reallocate its holdings based on changes in market conditions or outlook. As a result, its expenses are typically lower than the expenses of an actively managed fund. The fund seeks to match the performance of the entire U.S. stockShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. market as represented by the S&P Total Market Index but does not attempt to fully replicate the index by holding each of those stocks. Index investing can provide a convenient and relatively low-cost way to approximate the performance of a particular market, but it may not offer the flexibility to shift assets toward stocks or sectors that are rising or away from stocks or sectors that are declining. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
The S&P Total Market Index is a product of SPDJI and has been licensed for use by T. Rowe Price. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by T. Rowe Price.
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Equity Portfolio
Emphasizing long-term capital appreciationAn increase in the value of an investment such as a stock, bond, or mutual fund. This increase might also be referred to as "earnings.", this all-equity portfolio invests in a broad range of funds focused on domestic equityFunds that invest in stocks of companies based in the United States. markets, with some exposure to international equity markets. It is designed for Account Holders who want a broadly diversified portfolio of primarily actively managed mutual fundsA company that combines the money of many investors into a professionally-managed portfolio of stocks, bonds, and/or other securities. Each investor shares in the gain or loss of earnings in the mutual fund. that does not become more conservativeAn investment portfolio that attempts to preserve its capital by holding securities with a relatively lower degree of risk. This strategy often involves allocating most holdings to bonds and/or money market investments. over time. Because this portfolio invests in many underlying funds, it will have partial exposure to the risks of different areas of the market. This strategy is based on the understanding that the volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. associated with equity markets can be accompanied by the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Next Portfolio
Fixed Income Portfolio
This portfolio’s primary objective is to seek a high level of current income with moderate price fluctuations by investing exclusively in the T. Rowe Price Spectrum Income Fund, which invests in a diversified group of other T. Rowe Price mutual fundsA company that combines the money of many investors into a professionally-managed portfolio of stocks, bonds, and/or other securities. Each investor shares in the gain or loss of earnings in the mutual fund.. The fund, which invests in a variety of domestic and international bondAn investment in which an investor loans money to an entity such as a corporation or government. The entity borrows the funds for a defined period of time and repays the loaned amount along with the predetermined interest. funds, a money market fundA mutual fund that invests in highly liquid, short-term instruments such as U.S. Treasuries., and an income-oriented stockShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. fund, seeks to maintain broad exposure to several markets in an attempt to reduce the impact of declining markets and to benefit from good performance in particular market segments over time. The portfolio is subject to interest rate risk, credit risk, asset allocationThe division of a portfolio among various asset classes including stocks, bonds, and money market investments. An investor can include multiple portfolios to produce a desired overall combination or consider one portfolio that combines various assets to achieve the desired outcome. risk, liquidity risk, international investing risk, emerging markets risk, and dividend-paying stock risk. The strategy is based on a lower-risk investment approach that seeks to conserve principal and generate a reasonable level of return while minimizing the risks associated with equity markets. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Next Portfolio
Balanced Portfolio
This moderately aggressiveAn investment portfolio that attempts to increase returns by holding securities with a relatively higher degree of risk. This strategy often involves allocating most holdings to stocks. portfolio focuses on a mix of approximately 60% of its holdings invested in stocksShares of ownership or equity in a company that are bought and sold in a market such as a stock exchange. Stock prices can change every time any investor buys or sells shares of the stock and may reflect the state of the company as well as the economic environment. , including some exposure to international stocks, while seeking diversification through approximately 40% of its holdings allocated to fixed incomeA type of investment where the borrower or issuer is obliged to make payments with interest at a fixed rate on a fixed schedule. Bonds are considered to be fixed income securities.. This strategy is based on accepting the risks associated with stocks, which have the potential to provide high returns, and seeking to balance the effects of volatilityThe range of price changes in a security within a given period of time. Volatility is often used to describe a level of risk of an investment. In most cases, the higher the volatility, the riskier the investment. through diversification in fixed income securities. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
Next Portfolio
Money Market Portfolio
This portfolio invests exclusively in the T. Rowe Price U.S. Treasury Money Fund, which is a money market fundA mutual fund that invests in highly liquid, short-term instruments such as U.S. Treasuries. managed to provide a stable share price of $1.00 by investing short-term, high-quality securities backed by the U.S. government and repurchase agreements thereon. This Portfolio is designed for account holders who are conservativeAn investment portfolio that attempts to preserve its capital by holding securities with a relatively lower degree of risk. This strategy often involves allocating most holdings to bonds and/or money market investments. investors or who have a beneficiaryThe future student designated by an account holder to receive the benefit of an account. nearing enrollment. The detailed asset allocations for this portfolio are available on our Portfolio Composition Details page.
You could lose money by investing in this portfolio. Although the money market fund in which this portfolio invests seeks to preserve its value at $1.00 per share, the underlying money market fund cannot guarantee that it will do so. An investment in this portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The underlying money market fund's sponsor has no legal obligation to provide financial support to the underlying fund, and you should not expect that the sponsor will provide financial support to the underlying money market fund at any time.
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The neutral asset allocations depicted for this portfolio will be effective November 30, 2020. Asset allocations for each portfolio will vary and may be higher or lower than this example. Please refer to the Plan Disclosure Document for portfolio asset allocation details. For current allocations, please call 866-521-1894 and speak with a College Savings Specialist.

 1The principal value of the Enrollment-Based Portfolios is not guaranteed at any time, including at or after the target enrollment date. The portfolios invest in a broad range of underlying mutual funds that include stocks, bonds, and short-term investments and are subject to the risks of different areas of the market. The portfolios emphasize potential capital appreciation during the early phases of asset accumulation, balance the need for appreciation with the need for income as matriculation approaches, and focus more on income and principal stability after matriculation. While moving assets into bond and money market funds can help lower investment risks, there is no guarantee against loss. The portfolios maintain a substantial allocation to equities both prior to and after the target enrollment date, which can result in greater volatility.

2While certain portfolios seek to cushion the effects of volatility in U.S. equity markets by diversifying in foreign markets and/or fixed income markets, diversification cannot assure a profit or protect against a loss in a declining market. 

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Use the T. Rowe Price College Savings Calculator to estimate college expenses and predict how much you may need to save by the time your child is ready to enroll.

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