529 Plan

  • Who You Gonna Call? 529 Myth Busters

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    By Ashley Murdie
    Communications and Financial Literacy Director
    Kansas State Treasurer’s Office
    October 27, 2014

    Halloween is just around the corner, and while the fear of things that creep and crawl through the night may spook others, it’s 529 myths that truly have me worried. All too often, I’ve heard the same myths regarding 529 plans used as reasons by parents for not opening an account.

    It costs too much to start a 529 account.

    My child will have to attend an in-state school.

    I’ll lose the money if my child doesn’t go to college

    Knowing that these 529 myths and others still continue to deter families from using such a valuable resource is alarming, which is why I’ve made it a personal goal of mine to squash these pesky things. I’ve compiled a list of menacing myths below that I plan to debunk in hopes that parents no longer fear the use of 529 accounts in their efforts to save for their child’s education.

  • Don’t Let Scholarship Prospects Derail 529 Savings

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    By Lisa Groen
    Senior Writer, Utah Educational Savings Plan (UESP)
    August 28, 2014

    Andres, a junior at University of Nebraska Omaha, played soccer from the time he could walk, eventually earning his way onto a soccer club’s premier team. His father shuttled him to and from games around their home state of Utah, and to summer tournaments in California, Arizona, Colorado, and Nevada.

  • Reaping the Rewards of Saving in a 529 Plan

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    By Joan Marshall
    Executive Director, College Savings Plans of Maryland

    August 4, 2014

    collegemoney

    In running two 529 plans for our state, this time of year is always busy, yet rewarding, as we help thousands of account holders pay for qualified expenses on their beneficiaries’ college bills for the fall semester. In our office, we directly manage our 529 prepaid tuition program, so I really enjoy seeing the checks that we produce on a daily basis for thousands of students who are getting ready for college life in Maryland or across the country, many of them for the first time.

  • How do You Decide When to Use the Money in Your 529 Plan?

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    This spring, we talked to hundreds of college-bound seniors and their families about getting ready to pay for college.  So many families have found that they didn’t receive as much financial aid as they had been hoping for, and many are now wishing that they had started saving sooner and saved more.  And many of those families who do have savings set aside are uncertain about how and when to use their savings for college costs.

  • Are You a 529 Newbie? 3 Free CSPN Resources to Help You Find the Right Plan

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    By Terry Crockett
    Marketing Analyst, Virginia529 College Savings Plan
    July 28, 2014

    Finding the right college savings plan can often be tricky.  Does your state offer tax advantages to residents? What about a prepaid tuition plan? We won’t even get started on advisor sold plans vs. direct sold plans. Let’s face it–the average consumer just doesn’t have the industry knowledge to make a well informed decision when opening a 529 account.

  • 529 Day: What a Difference a Day Makes

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    By Patricia Roberts
    Managing Director, AllianceBernstein Investments
    May 26, 2014

    529 Day Logo
    Thursday, May 29, marks 529 College Savings Day, a day to raise awareness about the value of planning ahead for college expenses with 529 plans. This year, 529 plans across the U.S. are celebrating 529 Day in a variety of informative and creative ways.

  • Pending Legislation Would Make 529 Plans Even More Appealing

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    By Joan Marshall
    Executive Director, College Savings Plans of MarylandMay 22, 2014

    graduates

    A couple of months ago in this space, we talked about the benefits of HR 4333, a relatively new bill in Congress that would add several new features to 529 plans to make them easier to use and more flexible, including expanding the number of investment changes from one to four times per year; adding computers as a qualified higher education expense, etc.

  • De-mystifying 529 Prepaid Programs

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    By Mary G. Morris,
    CEO, Virginia529
    May 5, 2014

    Prepaid blog

    After deciding on a 529 plan for their college savings, one of the first questions asked by many families is “savings plan or prepaid tuition plan?” (For a basic overview of the two, read “What is a 529 Plan?” on this website.) While savings programs are relatively straightforward, prepaid tuition programs suffer from many misconceptions, perpetuated by people who don’t fully understand their benefits.

    The 13 prepaid tuition programs available in the U.S. offer customers a hedge against future tuition inflation that can’t be realized through savings programs.

  • 529 Plans and the FAFSA

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    By: Jodi Golden
    Director of the Indiana Education Savings Authority
    January 27, 2014

     

    FAFSA? What in the world does that mean, you ask? Well, for those families that have a child nearing college, you’re probably familiar with this infamous acronym. FAFSA stands for the Free Application for Federal Student Aid. This is one of the most important documents a prospective college student may ever have to submit. This document helps determine your eligibility for federal and state student financial aid.

  • Families continue to use 529 Plans to Save for Higher Education

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    By Hon. Michael L. Fitzgerald>State Treasurer, State of Iowa
    September 18, 2013

    Data collected as part of our 2013 Mid-Year 529 Report indicates that families are increasingly using 529 plans to pay for their children’s college education. 529 plan assets reached record amounts as of June 30, 2013 with more than $205 billion invested nationally. This is a 7.98% increase during the first half of 2013.