Connecticut Higher Education Trust (CHET) Connecticut State Treasurer

Fast Facts About CHET

Want to know all the great reasons why you should choose the Connecticut Higher Education Trust (CHET)? This quick list will give you the key benefits at a glance.

The cost of higher education is only going up. But that shouldn’t get you down. Saving for college doesn’t need to be a burden. With the Connecticut Higher Education Trust (CHET), there’ no big upfront investment and getting started takes about as long as grabbing a cup of coffee.

Easy, Convenient and Affordable

With CHET you can easily open an account in just 15 minutes and easily manage it online or by mail. Open an account with as little as $25 per investment option, or $15 dollars per pay period using automatic payroll deduction.

The Only Plan with a CT State Income Tax Deduction

Connecticut taxpayers are eligible to receive a Connecticut income tax deduction of up to $10,000 on contributions made to CHET. And your earnings, if any, are free from federal and state income tax when used for qualified expenses.

Use at Schools Anywhere

Funds can be used at any accredited university, college or vocational school nationwide — and many abroad. Basically any institution with a student aid program qualifies.

Use for More Than Just Tuition

CHET can be used to pay for tuition, certain room and board costs, computers and related technology expenses as well as fees, books, supplies, and other equipment. 

Lower Impact on Financial Aid than Other Savings Options

Many parents worry that a 529 Savings Account can adversely affect eligibility for financial aid. So long as the parent is the account owner, funds are typically treated as belonging to the parent, not the child, minimizing the impact on financial aid.*

You Control the Account

You own the account and control how the money is invested and how it gets spent. And you don’t need to be a parent — anyone can start an account for anyone else.

Everyone Can Help

You don’t have to do it all on your own! Grandparents as well as other family and friends can make gifts to your account for maximum growth potential.

Investment Flexibility

CHET provides a variety of professionally managed investment options to choose from including age-based options that automatically change as the beneficiary grows up. Alternatively you can tailor your Investment with multi-fund, single-fund and guaranteed options to match your risk tolerance, timeline, and investment preferences.

Unused Funds Can be Used for Other Eligible Members of Your Family

If it turns out your child or grandchild doesn’t need all the money or their education goals change, you can designate a new beneficiary penalty-free so long as they’re an eligible member of your family.

Estate Tax Planning Benefits

When you or anyone else makes a contribution, it may qualify for an annual gift tax exclusion of $15,000 per year for single filers and $30,000 a year for couples. And CHET is the only investment that allows you to give up to 5 years’ worth of gifts at one time — for a maximum of $75,000 for a single filer and $150,000 for couples.

*The treatment of investments in a 529 savings plan varies by school. Assets are typically treated as the account holder’s and not the student’s. (Student assets are generally assessed at 20% whereas parental assets are generally assessed at 5.6%.) Any investments, including those in 529 accounts, may affect the student's eligibility to get financial aid based on need. You should check with the schools you are considering regarding this issue.


Open your account online today and your CHET account could be growing by bedtime.