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.
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.
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.
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.
(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.