529 Plan

  • 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.

  • Just How Easy is it to Get Started Saving for College with a 529 Account?

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    By Mary G. Morris
    CEO, Virginia529
    August 15, 2013

    It really is easy – and inexpensive – to get started with a 529 college savings account.

    I talk to hundreds of people about higher education in the course of a year – about how important it is, plans to attend and how to pay for it. Many conversations are at Virginia529-sponsored events and some are with people I meet in the course of a day at the grocery store, a restaurant or at the dentist’s office. The reality is that most people are interested in college and its costs and once they know that I work at a 529 plan, the questions come quickly.

  • CSPN 529 Plan Investor Survey

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    • The College Savings Plans Network—the national non-profit association and the leading, objective source of information about Section 529 College Savings Plans and Prepaid Tuition Plans—is collecting information from 529 investors in each state to learn more about the habits of people who are saving for college. This will help us better understand investors’ patterns. No individual’s specific data will be shared – we are only looking for overall numbers and trends. Please take a moment to fill out this brief survey here

  • 529 Plan Uses – Part II

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    By Mary Anne Busse
    Managing Director, Great Disclosure LLC
    April 15, 2013

    In an earlier post, we talked generally about uses for your 529 Plan account. In this post, we’ll break down what is included in room and board expenses. First, a refresher:

    If you use the funds in your 529 Plan account for Qualified Higher Education Expenses (as defined in Section 529 of the Internal Revenue Code), you will not be taxed on any of the income earned on your account. According to Section 529, Qualified Higher Education Expenses include, among other things, expenses for room and board incurred by students who are enrolled at least half-time.

  • 529 Plan Uses?

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    By Mary Anne Busse
    Managing Director, Great Disclosure LLC
    February 8, 2013

    So, you want to save for college and you’re trying to figure out the right way to do it. You’ve learned about 529 Plans and want to have a better understanding of what you can use the funds in your account for. Look no further. In this post, we’ll give you the 411 on what to do with all that money in your 529 Plan account.

  • Does a 529 hurt or help when it comes to financial aid?

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    By Jodi Golden,
    Director, CollegeChoice 529 Savings Plans
    January 25, 2013

    What’s one of the most important steps you can take in preparing for college? Filling out the Free Application for Federal Student Aid (FAFSA). The FAFSA is your first step in applying for over $150 billion in federal financial aid dollars. The FAFSA is an important document that requires personal and financial information. Be prepared to list everything from social security numbers of your students and parents to information on cash, bank accounts or investments the family may hold.

  • Thoughts on Participation in 529 Plans

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    By Mary Morris
    Virginia529
    December 18, 2012

    Last week, the US Government Accountability Office (GAO) released a report about participation in 529 plans across the country. We appreciate the focus on 529 plans and attempts by the GAO to understand the industry by talking to 529 sponsors and partners. The Report contains some interesting findings and food for thought. But, there also are data points in the Report that merit additional context and attention.

  • Best of Both Worlds: How 529 College Savings Plans Complement 529 Prepaid Tuition Plans

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    By Lynne N. Ward
    Executive Director, Utah Educational Savings Plan (UESP)
    November 28, 2012

    One size doesn’t fit all when it comes to saving for college. Your family has unique needs, means, and goals, and your family needs a unique college savings blueprint.

    Fortunately, you have lots of options, especially among 529 plans. Two of those options are 529 Prepaid Tuition Plans and 529 College Savings Plans.

  • Families Are Saving More Using 529 Plans

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    (Part 2 in a series based on the findings from the 2012 Mid-Year 529 Report)

    By Mary Anne Busse,
    Managing Director, Great Disclosure LLC

    Last week, we reported that data collected as part of our  2012 Mid-Year529 Report indicates that more families are using 529 Plans than ever before. 529 Plan assets reached record amounts as of June 30, 2012 with $179.02 billion invested nationally. This is an 8.6% increase during the first half of 2012. This week, we’ll focus on some other highlights from the report.

    Average Account Size

    The Report shows that as of June 30, 2012, 529 Plan accounts reached an average account balance of $16,298. In 2002, the average account balance was $9,688. Although the increase in savings may be an encouraging number, take a look at some other relevant numbers. The College Board’s Annual Survey of Colleges shows that in-state tuition and fees (including room and board) at public four-year institutions averaged $9,689 in 2002-2003 and $17,131 in 2011-2012.