Louisiana ABLE Account Information

  • Status: Open for Enrollment
  • Program Name: Louisiana ABLE Account Program
  • Program Manager: Louisiana Office of Student Financial Assistance (LAOSFA) and Louisiana Tuition Trust Authority (LATTA)
  • Program Investment Institutions: Vanguard Inc.
  • Program Website: https://www.able.osfa.la.gov/index.aspx
  • Annual Contribution Limit: $15,000.00

FAQ

Does this program offer enrollment to out of state residents?

No

Is there a state income tax deduction or credit for contributions made into accounts opened in this state by state residents?

No

Who is the program administrator?

Louisiana Tuition Trust Authority (LATTA)

Is there an initial minimum contribution requirement to open an ABLE account? 

Yes. The initial minimum contribution requirement to open an ABLE account is $10.00. 

Is there an annual set fee to maintain the account? 

No

Is there a required minimum contribution to your account? If so, what is the amount?

No

Are there fees or restrictions to the number of disbursement you are allowed?

Disbursements must be $200 or greater, unless the purpose it to close the account and the account is valued at less than $200.

Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?

Yes. There are currently no fees associated with rolling over your ABLE account from one ABLE program to another ABLE program.

Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?

No

How many investment options are associated with the program? Do those investment options vary in risk?

There are seven investment options available. These investment options range from conservative to aggressive with varying levels of risk.

Is there a fee associated with the investment choices? If so, how much?

Yes. Depending on the investment choices, there is a total annual asset-based fee ranging from 0.34% to 0.37%.