You Have Options When Investing for the Future
Two 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 approaching fast or you've got years ahead to save, we offer a range of professionally managed investment portfolios.
Enrollment-Based Portfolios are target date investments with allocations that change automatically based on time horizon.
The enrollment-based portfolios invest in a diversified mix of T. Rowe Price equity and fixed income mutual funds.1 Each of the enrollment-based portfolios is targeted to a beneficiary’s expected enrollment year as indicated in the enrollment-based portfolio’s name.
The portfolios furthest from their target enrollment year seek long-term capital appreciation by broadly investing in both domestic and international equity markets. The strategy is based on the understanding that despite periods of volatility, equity markets provide the greatest potential for long-term capital appreciation. 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 as enrollment approaches.
The allocations shown in the pie chart are as of the second quarter of 2025. The detailed allocations for each portfolio are available in the Plan Disclosure Document.
Portfolios
Use the select box or range slider to choose the number of years until you will first use your savings.
- Portfolio 2045, 100% stocks, 0% bonds
- Portfolio 2042, 100% stocks, 0% bonds
- Portfolio 2039, 95% stocks, 5% bonds
- Portfolio 2036, 80% stocks, 20% bonds
- Portfolio 2033, 64.5% stocks, 35.5% bonds
- Portfolio 2030, 48.5% stocks, 51.5% bonds
- Portfolio 2027, 31.5% stocks, 68.5% bonds
- Portfolio for Education Today, 20% stocks, 80% bonds
General Information:
The allocations for each underlying fund are as of the most recent Plan Disclosure Document and related supplements; the allocations may be higher or lower than shown. Please see the Plan Disclosure Document and related supplements for additional details, including neutral allocation information.
T. Rowe Price mutual funds compose the underlying investments of each of the portfolios.
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.
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.
Portfolio Details
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Equity Portfolio
100% stocks100% stocksEmphasizing long-term capital appreciation, this all-equity portfolio invests in a broad range of funds focused on domestic and international equity markets. It is designed for account owners who want a broadly diversified portfolio of primarily actively-managed equity mutual funds.3 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, despite periods of volatility, equity markets provide the greatest potential for long-term capital appreciation. The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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Total Equity Market Index Portfolio
100% stocks100% stocksThe Total Equity Market Index Portfolio seeks to approximate the performance of a benchmark index that measures the investment return of U.S. stocks. The portfolio invests in the Small-Cap Index Fund—I Class, Mid-Cap Index Fund—I Class, and Equity Index 500 Fund—I Class. Index investing can provide a convenient and relatively low-cost way to approximate the performance of a particular market. The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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Global Impact Equity Portfolio
100% stocks100% stocksThis portfolio invests exclusively in the T. Rowe Price Global Impact Equity Fund. The T. Rowe Price Global Impact Equity Fund seeks long-term growth of capital.4
Under normal conditions, at least 80% of the fund's net assets will be invested in equity securities and at least 40% of the fund's net assets will be invested in companies outside the U.S. Equity securities may include common stocks, preferred stocks, or convertible securities. In addition, for purposes of these policies, the fund's investments include instruments that are linked to, or provide exposure to, equities or companies outside of the U.S., such as depositary receipts. The fund may invest in issuers of any market capitalization and in securities offerings that are not registered in the U.S. or denominated in the U.S. dollar. The fund may invest in issuers in emerging markets. In pursuing its investment objective, the fund seeks to generate a positive, measurable environmental and/or social impact with the potential to outperform its benchmark index. The fund selects companies for its portfolio using T. Rowe Price's in-house proprietary screening process. This screening process relies on T. Rowe Price's independent analysis of each issuer. The fund seeks to select companies for its portfolio that are, in the opinion of the portfolio manager of the fund, capable of achieving and sustaining above-average, long-term earnings and cash flow growth, and its current or future business activities are expected to generate a positive impact under one of the following impact categories: environmental impact and/or social impact.
The materiality of positive impact is assessed according to specific, in-house metrics for every business activity that aligns to one of the impact categories. In assessing each company under the impact categories, T. Rowe Price relies primarily on proprietary analysis incorporating company-provided data, direct engagement with companies and their management, and, in certain situations, research and analytics prepared by third-party data providers (for example, data on a company’s carbon emissions). The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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Fixed Income Portfolio
0% stocks100% bonds100% bondsThis 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 variety of U.S. and international bond funds, including emerging market bond funds, and money market funds. In addition, the fund may invest in individual securities on a limited basis. The various underlying funds and any individual securities focus on high-quality U.S. and international bonds; high-yield bonds (“junk” bonds); short- and long-term securities; mortgage-backed securities, asset-backed securities, and securitized instruments, which are vehicles backed by pools of assets such as mortgages, loans, or other receivables; inflation-linked securities; bank loans; and other instruments that produce income. The goal is to maintain broad exposure to several markets in an attempt to reduce the impact of markets that are declining and to benefit from strong performance in particular market segments over time. The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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Balanced Portfolio
60% stocks40% bonds60% stocks40% bondsThis moderately aggressive portfolio focuses on a mix of approximately 60% of its holdings invested in stocks, including some exposure to international stocks, while seeking diversification through approximately 40% of its holdings allocated to fixed income. 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 volatility through diversification in fixed income securities.3 The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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Money Market Portfolio
100% money market100% money marketThis portfolio invests exclusively in the T. Rowe Price U.S. Treasury Money Fund, which is a money market fund managed to provide a stable share price of $1.00 by investing in short-term, high-quality securities backed by the U.S. government and repurchase agreements thereon. This portfolio is designed for account owners who are conservative investors or who have a beneficiary nearing enrollment. The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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.
General Information:
The portfolio description and asset allocations for each underlying fund are as of the most recent Plan Disclosure Document and related supplements; the allocations may be higher or lower than shown. Please see the Plan Disclosure Document and related supplements for additional details, including neutral allocation information.
T. Rowe Price mutual funds compose the underlying investments of each of the portfolios.
2All investments are subject to market risk, including possible loss of principal. Stocks can decline for many reasons, including adverse political or economic developments here or abroad, changes in investor psychology, or heavy institutional selling. Bonds may decline in response to rising interest rates, a credit rating downgrade, or failure of the issuer to make timely payments of interest or principal. Foreign investments are subject to additional risks, including potentially adverse political and economic developments overseas, greater volatility, less liquidity, and the possibility that foreign currencies will decline against the dollar.
3While 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 loss in a declining market.
4All investments are subject to market risk, including the possible loss of principal. The fund may not succeed in generating a positive environmental and/or social impact. The fund's incorporation of environmental and/or social impact criteria into its investment process may cause the fund to perform differently than a fund that uses a different methodology to identify and/or incorporate environmental and/or social impact criteria or that relies solely or primarily on financial metrics. Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. Investing in the securities of non-U.S. issuers involves special risks not typically associated with investing in U.S. issuers. Non-U.S. securities tend to be more volatile and have lower overall liquidity than investments in U.S. securities and may lose value because of adverse local, political, social, or economic developments overseas or due to changes in the exchange rates between foreign currencies and the U.S. dollar. Because the fund is normally heavily exposed to foreign currencies, the fund is subject to the significant risk that it could experience losses based solely on the weakness of foreign currencies versus the U.S. dollar and changes in the exchange rates between such currencies and the U.S. dollar. Investments in emerging market countries are subject to greater risk and overall volatility than investments in the U.S. and developed markets.
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.
Portfolio Details
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100% stocks
Emphasizing long-term capital appreciation, this all-equity portfolio invests in a broad range of funds focused on domestic and international equity markets. It is designed for account holders who want a broadly diversified portfolio of primarily actively managed mutual funds that does not become more conservative 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 volatility 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 in the Plan Disclosure Document.
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100% stocks
The Total Equity Market Index Portfolio seeks to approximate the performance of a benchmark index that measures the investment return of U.S. stocks. The portfolio invests in the Small-Cap Index Fund—I Class, Mid-Cap Index Fund—I Class, and Equity Index 500 Fund—I Class. Index investing can provide a convenient and relatively low-cost way to approximate the performance of a particular market. The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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100% stocks
This portfolio invests exclusively in the T. Rowe Price Global Impact Equity Fund. The T. Rowe Price Global Impact Equity Fund seeks long-term growth of capital.3
Under normal conditions, at least 80% of the fund's net assets will be invested in equity securities and at least 40% of the fund's net assets will be invested in companies outside the U.S. Equity securities may include common stocks, preferred stocks, or convertible securities. In addition, for purposes of these policies, the fund's investments include instruments that are linked to, or provide exposure to, equities or companies outside of the U.S., such as depositary receipts. The fund may invest in issuers of any market capitalization and in securities offerings that are not registered in the U.S. or denominated in the U.S. dollar. The fund may invest in issuers in emerging markets. In pursuing its investment objective, the fund seeks to generate a positive, measurable environmental and/or social impact with the potential to outperform its benchmark index. The fund selects companies for its portfolio using T. Rowe Price's in-house proprietary screening process. This screening process relies on T. Rowe Price's independent analysis of each issuer. Each company selected for inclusion in the fund's portfolio is capable of achieving and sustaining above-average, long-term earnings and cash flow growth, and its current or future business activities are expected to generate a positive impact under one of the following three impact pillars: climate and resource impact, social equity and quality of life, and/or sustainable innovation and productivity.
The materiality of positive impact is assessed according to specific, in-house metrics for every business activity that aligns to one of the three impact pillars. Companies must meet one of the following four criteria: (1) a majority of current or future profits tied to at least one impact pillar; (2) a majority of expected revenues or profits in 10 years tied to at least one impact pillar, as projected by the fund's portfolio manager; (3) best-in-class companies where a company is a leader in generating material social or environmental impact in its respective business activity or sector; and (4) occasionally, unique impact situations where a company has made or is expected to make a material social or environmental impact outside the scope of its otherwise normal business activities. The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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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 funds. The fund, which invests in a variety of domestic and international bond funds, a money market fund, and an income-oriented stock 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 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 in the Plan Disclosure Document.
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60% stocks40% bonds
This moderately aggressive portfolio focuses on a mix of approximately 60% of its holdings invested in stocks, including some exposure to international stocks, while seeking diversification through approximately 40% of its holdings allocated to fixed income. 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 volatility through diversification in fixed income securities. The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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100% money market
This portfolio invests exclusively in the T. Rowe Price U.S. Treasury Money Fund, which is a money market fund 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 conservative investors or who have a beneficiary nearing enrollment. The detailed asset allocations for this portfolio are available in the Plan Disclosure Document.
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.
General Information:
The portfolio description and asset allocations for each underlying fund are as of the most recent Plan Disclosure Document and related supplements; the allocations may be higher or lower than shown. Please see the Plan Disclosure Document and related supplements for the most recent portfolio description, portfolio composition, and neutral allocation information.
T. Rowe Price mutual funds compose the underlying investments of each of the portfolios.
2All investments are subject to market risk, including possible loss of principal. Stocks can decline for many reasons, including adverse political or economic developments here or abroad, changes in investor psychology, or heavy institutional selling. Bonds may decline in response to rising interest rates, a credit rating downgrade, or failure of the issuer to make timely payments of interest or principal. Foreign investments are subject to additional risks, including potentially adverse political and economic developments overseas, greater volatility, less liquidity, and the possibility that foreign currencies will decline against the dollar.
2All investments are subject to market risk, including the possible loss of principal. The fund may not succeed in generating a positive environmental and/or social impact. The fund's incorporation of environmental and/or social impact criteria into its investment process may cause the fund to perform differently than a fund that uses a different methodology to identify and/or incorporate environmental and/or social impact criteria or that relies solely or primarily on financial metrics. Stocks generally fluctuate in value more than bonds and may decline significantly over short time periods. Investing in the securities of non-U.S. issuers involves special risks not typically associated with investing in U.S. issuers. Non-U.S. securities tend to be more volatile and have lower overall liquidity than investments in U.S. securities and may lose value because of adverse local, political, social, or economic developments overseas or due to changes in the exchange rates between foreign currencies and the U.S. dollar. Because the fund is normally heavily exposed to foreign currencies, the fund is subject to the significant risk that it could experience losses based solely on the weakness of foreign currencies versus the U.S. dollar and changes in the exchange rates between such currencies and the U.S. dollar. Investments in emerging market countries are subject to greater risk and overall volatility than investments in the U.S. and developed markets.
Our Plan Is Recognized for Its Excellence
The T. Rowe Price College Savings Plan has been helping families save for college since 2001. Backed by a "Gold" rating from Morningstar and a top 10 ranking by Savingforcollege.com, we're helping you invest in your family's future with confidence.
Gold Rating from Morningstar
In October 2024, the T. Rowe Price College Savings Plan received a "Gold" rating from Morningstar - a respected independent investment research firm.5
The top recognition was awarded thanks to "the prowess of T. Rowe Price's multi-asset team and well-constructed plan."
The T. Rowe Price College Savings Plan continues its history of strong investment performance with "thoughtful portfolio construction and deliberate enhancements," alongside a "well-curated menu of portfolios." This accolade recognizes the plan's commitment to serving as a trusted choice for education savings.
Top 10 Performance
The T. Rowe Price College Savings Plan was ranked #4 for 529 plan enrollment-based portfolio performance in the three-year period, #2 in the five-year period, and #2 in the ten-year period as of 3/31/2025.
Saving For College conducts quarterly evaluations of the investment performance of thousands of 529 enrollment-based portfolios and ranks the plans based on the results.6 According to Saving For College, the rankings are "…a helpful tool for families and financial professionals looking to compare college savings options."
Saving For College has been the leading independent authority on 529 savings plans since 1999. The site compiles and analyzes data and creates content and tools to provide parents, financial professionals, and state policymakers with resources to help them understand how to meet the challenge of ever-increasing education costs.
2024 “Top of the Class” Award
The T. Rowe Price College Savings Plan earned the “Top of the Class” designation from Saving for College in their 2024 529 Ratings, placing it among only 9 direct-sold 529 plans recognized.7 This award signifies that these plans have outperformed more than 80% of their peers in the category.
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5Morningstar analysts reviewed 59 plans for its 2024 ratings (10/29/24), of which 5 plans received a "Gold" rating. To determine a plan's rating, Morningstar's analysts organized their research around 4 key pillars: Process, People, Parent, and Price. Plans were then assigned forward-looking ratings of "Gold," "Silver," "Bronze," "Neutral," and "Negative." Each year, certain of the industry's smallest plans are not rated. Click here for additional information about Morningstar's methodology.
Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar analysts' current expectations about future events and, therefore, involve unknown risks and uncertainties that may cause Morningstar's expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its Analyst Ratings to be guarantees.
©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
6Each quarter, Saving For College analyzes the investment performance figures for thousands of 529 enrollment-based portfolios, comparing the reported investment performance of a subset of portfolios from each 529 savings plan to produce their rankings. As of 3/31/2025, the rankings for the T. Rowe Price College Savings Plan were: 15 out of 53, 4 out of 49, 2 out of 40, and 2 out of 23 for the 1-, 3-, 5-, and 10-year periods, respectively.
Saving For College compares historical investment returns for all enrollment-based portfolios, including age-based and year-of-enrollment portfolios, within a given age band from 0 to 19+. A hypothetical average annual return is then calculated for each plan's enrollment-based portfolios along a glide path from 0 to 19+, and the plans are ranked from highest to lowest return. There are separate comparisons for direct-sold and advisor-sold plans. More information about the methodology and the performance rankings can be found on savingforcollege.com.
7The factors Saving For College examined and scored for each 529 plan are grouped into four categories: Performance, Ease of Use, Savings Success, and Program Delivery. A plan's four individual category scores are computed on a scale of 1 to 5 and carried out to two decimal places. The overall 529 Rating is a weighted average of these four category scores.
Past performance cannot guarantee future results. Current performance may be lower or higher than performance results used for these rankings, resulting in different rankings that may be lower than those shown.
