The ScholarShare College Savings Plan is California's tax-advantaged 529 plan, open to everyone. It's sponsored by the ScholarShare Investment Board, an agency of the State of California, and managed by Fidelity Investments. Any earnings grow tax deferred and qualified withdrawals are free from federal- and California state-income taxes.  There is a minimum initial deposit of $50, or $15/month with automatic investments.  There are account management fees.