College

  • Cousin’s Legacy Lives on Through Investments in Children’s Futures

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    By Ryan Betz
    Associate Director of Marketing & Communications with Washington State’s Guaranteed Education Tuition (GET) program
    June 1, 2015

    Fifteen years ago my cousin Michael passed away after a tragic airline accident. He was only 30 years old and had a bright future ahead of him. Over the years following my cousin’s death, my aunt and uncle searched for ways to honor Michael’s life. One of the ways they chose to recognize Michael’s contributions to the world was by establishing a 529 college savings account for both my daughter and my son. My aunt and uncle believed education was the one way Michael’s legacy could be carried on by giving my children the opportunity to follow their dreams and aspirations through a college education.

    My aunt and uncle’s choice to celebrate Michael’s life through a 529 plan contribution was not based on maximizing investment returns in order to make a lot of money; it was a much deeper and meaningful decision. They simply wanted to ensure all the amazing experiences that were afforded to Michael because of his education were passed along to the next generation of our family. In fact, I remember Michael’s college graduation pretty vividly since it was the first I had ever attended. I recall thinking at the time, how cool it was that he achieved such a high level of education. That memory was left engraved in my mind and was something I circled back to when I needed a little motivation with my own studies.

  • It’s 5/29, Are you Saving for College?

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    Patricia Roberts
    Managing Director, AllianceBernstein L.P. & Chair, College Savings Plans Network Corporate Affiliates Committee
    May 26, 2015
    Across the country as the clock strikes 5:29 a.m. and p.m. each day, if you’re listening to the radio, you may hear a Public Service Announcement that begins by posing a timely and important question: “It’s 5:29, are you saving for college?” In an informative and encouraging manner, the PSA, playing on hundreds of stations across the country, seeks to educate listeners about what 529 college savings plans are and how these plans can play a valuable role in helping families prepare for higher education expenses.

  • Statement from College Savings Plans Network on Senate Finance Committee Passage of College Savings Bill

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    WASHINGTON, D.C. (April 30, 2015) – Yesterday, the Senate Finance Committee considered S. 335, the companion bill to H.R. 529, which was passed with a bipartisan vote by the House of Representatives in February. Introduced by Senator Charles Grassley (R-IA) and Bob Casey (D-PA), the Senate Finance Committee voted unanimously in favor of the bill 26-0.

    The legislation will make 529 plans more flexible by making computers an eligible education expense; allowing the redeposit of college refunds without negative tax implications in certain circumstances and updating outdated accounting rules.

    Betty Lochner, chair of the College Savings Plans Network (CSPN)—the nation’s leading objective source of information about Section 529 College Savings Plans and Prepaid Tuition Plans—issued the following statement:

  • College Decision Day

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    Mary G. Morris
    CEO, Virginia529 College Savings Plan
    April 27, 2015

    As college acceptance day approaches for high school seniors,  I have been reading Frank Bruni’s new book, Where You Go Is Not Who You’ll Be, about the “college admissions mania” and thinking about the admissions process.

    Soon-to-be high school graduates – this is for you.  If college is not in your immediate future, stay open to opportunities in the future and know that learning takes many shapes and forms  throughout our lives.

    For those heading straight to some form of higher education – congratulations! As you consider your options this month, remember that where you go does not define you now and it will not control your future.

  • Why Not Pay Sale Prices for College?

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    Nancy Farmer
    President, Private College 529 Plan
    April 6, 2015

    “How come anything you buy will go on sale next week?” – Erma Bombeck

    American humorist and columnist Erma Bombeck died before 529 plans became a common vehicle for families to save for college. But I think she would have approved of 529 prepaid tuition plans. They each offer college education in the future, at guaranteed prices.

    And unlike Erma’s wistful complaint, the 12 states and one private college organization that sponsor prepaid college tuition plans don’t make any secret of when you can buy their products on sale. In fact, they advertise trying to get more and more families to take advantage of the benefits.

    Why use a prepaid tuition plan?  Here are several reasons:

  • Reaching your dreams takes a lot more than a little bit ‘o luck

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    Lucas Minor
    GET Marketing & Communications Manager
    March 16, 2015

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    Many symbols associated with St. Patrick’s Day signify luck. Shamrocks, horseshoes and the color green are often revered as tokens that promise bounties of good fortune. However, while there definitely are times where the cards seem to be more in our favor than usual, good fortune typically takes more than luck alone. In fact, the things we attribute to luck are usually direct results of the efforts we make. As Thomas Jefferson is credited with saying, “I am a great believer in luck, and I find the harder I work, the more I have of it.”

  • I’m Not Worried About Paying for College; My Child’s Going to Get a Scholarship

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    Jim Peterson
    Marketing Manager, Michigan Education Trust (MET)
    March 9, 2015

    During the course of any conversation I have concerning saving for college with a 529 plan, parents will inevitably ask, “What happens if my son/daughter gets a scholarship?” I understand the question; it’s a valid one. Parents are considering investing their hard-earned money and they’re looking at all the possible outcomes that may affect their investment. Those are important questions to ask.

    But, if you’re a parent that’s putting off saving for your child’s education because you believe your child will attend college on an athletic scholarship, let me share a word of caution – the thousands of dollars you spend in supporting your student athlete will, most likely, not translate into college dollars.

  • Statement from College Savings Plans Network on Passage of H.R. 529

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    WASHINGTON, D.C. (February 25, 2015) – Today, the U.S. House of Representatives passed H.R. 529, legislation introduced by Congresswoman Lynn Jenkins (R-KS) and Congressman Ron Kind (D-WI) that would make 529 plans more flexible by making computers an eligible education expense; allowing the redeposit of college refunds without negative tax implications in certain circumstances and updating outdated accounting rules.

  • Create your own strategy to college planning

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    Francesca Nelson
    Public Affairs Officer – College Savings Plans of Maryland
    January 26, 2015

    In Maryland, we recently surveyed more than 1,000 families to see how they are preparing for the rising cost of college. Our research showed that 68% of families who are saving for college believe they will pay for all or part of their child’s college education. Of those not saving, 90% still believe that their child will attend a 4-year university. This financial commitment can be daunting, but not if you choose to plan ahead and do the proper research.

  • President’s College Plan: Well Intentioned with Misguided Funding Strategy

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    Betty Lochner
    Chair of the College Savings Plan Network & Director of Washington State’s Guaranteed Education Tuition (GET) Program
    January 22, 2015

    During Tuesday night’s State of the Union address President Barack Obama proposed some philosophical changes in the road to higher education, including a strategy that provides free community college for all Americans. The idea of creating greater access to higher education to strengthen our country’s economy, workforce and the number of career opportunities for our citizens is commendable and inspiring.

  • From Dream to Reality: Children’s Savings Accounts Build Money and Momentum to Get More Children to College

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    By Lisa Groen
    Senior Writer, Utah Educational Savings Plan
    January 19, 2015

    More than 50 years ago, when the Rev. Martin Luther King Jr. stood on the steps of the Lincoln Memorial and spoke the words, “I have a dream,” he contrasted racial injustice with the U.S. Constitution’s promise of equality and opportunity for all. He called for change, including equal access to education.

    As the nation’s college savings plans continue to work to ensure that King’s dream of equal access is fully realized, they can rely on encouraging data that lends understanding to what may help children attain a college education. William Elliott, a researcher on the topic of children’s savings accounts (CSAs), reports that when children have savings accounts in their names, they are more likely to attend college, regardless of their parents’ personal savings and net worth. A child with as little as $1 to $499 in a CSA is 3 times more likely to enroll and 2.5 times more likely to graduate from college.*  This suggests that designating a savings account for a child’s future college expenses, regardless of the amount saved, may be vital to academic attainment—important information for families considering opening a 529 college savings account.

  • Resolving to Improve

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    By Jodi Golden
    Indiana Education Savings Authority
    January 12, 2015

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    Being a couple of weeks into the New Year, a lot of us are already questioning some of those New Year resolutions we made on January 1. Unfortunately, a large number of Americans struggle with continuing that healthy diet or active exercise regimen. These are vitally important to living a quality life and should certainly be a priority.
    However, another type of resolution frequently made and broken pertains to financial goals. Be it creating an emergency fund, paying off debt or saving for your children’s college education, we all start out with the best of intentions. Unfortunately, they don’t always last.

    In the spirit of encouragement, I’ve found a few helpful tips in an article from U.S. News and World Report* that could ultimately help other areas of your financial life; allowing you to then focus on saving for other important goals such as retirement and education.