College

  • 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.

  • Saving for College is Easier than Diet & Exercise

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    Betty Lochner
    Chair of the College Savings Plans Network and Director of Washington’s Guaranteed Education Tuition (GET) program

    January 5, 2015

    The new-year is upon us and that means many of us have set resolutions like finding time to exercise more, eat well or accomplish a long-established goal.

    While I see the merit in making resolutions, I’ve never been one to make too many of them. There is one life-changing resolution I did make 15 years ago when I was hired as the Director of the GET program. Believe it or not, my husband and I had not started saving for our children’s college education and I knew if we did not start now we were never going to make it happen. We started small and kept adding to the effort over the years and I am proud to say that both of my kids graduated debt-free! My son recently completed his MBA at the University of Washington and is now a project manager at Microsoft and my daughter followed in her father’s footsteps and is a first grade teacher.

  • Give the Gift of Education

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    Buffy Kuiper,
    Senior Program Specialist
    Education Trust of Alaska 

    The holidays are fast approaching and the town is hustling and bustling with people frantically trying to find the best gifts and deals. With all the “this deal’s for you” noise, how can college savings plans across the country promote the idea of making a gift to a loved one’s college savings account?

    Do all of our friends have college savings plans? Sadly, most don’t. Would the promise of a contribution incentivize a family to open an account? Maybe, maybe not. Is this what parents want and prefer? How can one incorporate the idea of making a child’s college dream a reality this holiday season? It’s not about the amount; it’s about taking action and setting an expectation while changing the mindset from “if” to “when I go to college…” Who wouldn’t want a child to have a bright future?

  • Inspiration and Education as Holiday Gifts: Why Not?

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    By Patricia Roberts
    Managing Director
    AllianceBernstein Investments
    Nov. 17, 2014

    College Board

    I recently returned inspired in so many ways from the College Board 2014 Forum.  I was particularly moved by the FirstGen Student Panel moderated by John Quiñones of ABC News. Like John, these amazing students were the first in their families to attend college. They spoke of their challenging and courageous journeys to and through higher education and the positive impact college is having on them and on those whose lives they touch. The combination of John’s own powerful story and theirs presented a valuable reminder of the vital role that education plays in opening doors and the many rewards that perseverance brings.

  • Building Your College Savings Game Plan

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    By Luke Minor, Marketing & Communications Manager
    Washington’s Guaranteed Education Tuition (GET) program
    Nov. 3, 2014

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    It’s the middle of football season, and no matter whether you’re a fan or not, there are some valuable lessons that can be learned from the top caliber NFL teams when it comes to getting ahead of college expenses. Like executing a winning game plan, saving for college takes thoughtful preparation, dedication and commitment. Here are some tips to get you started:

  • Take the Scare Out of Paying For College: Saving vs. Borrowing Can Have a Fiendish Impact!

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    By Lauren Shipley
    Public relations and marketing manager, College Savings Plans of Maryland
    October 6, 2014

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    I hear one frightening theme as I travel in October: “I have been meaning to start a 529 plan for a while.”  I believe many families understand the need to save for college, but often misunderstand the true benefit of saving.

    It may sound bewitching, but each family has the power to cut their child’s future college costs in half. The power lies in saving now versus borrowing later.  To cover $25,000 in college costs, a family could put away $92 a month into a 529 plan for 15 years—a total investment of $17,000.

    1. A family choosing to borrow the $25,000 instead would have to repay roughly $35,000 (or approximately $300 a month over the next ten years)

    2. Their total debt would be double the amount spent by the family who saved. Ghoulish, right?!

  • The One: Finding and Affording Your Top Choice School

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    By Lael Oldmixon, Education Trust of Alaska
    Sept. 29, 2014
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    During the college search process, many parents and their college-ready young adults pile into the trusty family wagon and drive from school to school comparing campuses for the right fit. You know the right fit…it’s the right program of study, the perfect location, or just that magical feeling in the pit of the tummy that says this college is “THE ONE.” 

  • And That’s a Wrap to College Savings Month!

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    By Betty Lochner
    Chair of the College Savings Plans Network and director of Washington’s Guaranteed Education Tuition (GET) program
    September 25, 2014
    Charlie Davenport

    Well it’s been another eventful and all-together successful College Savings Month!

    In case you missed it, throughout the month of September, eight-year-old CSPN correspondent Charlie Davenport was busy investigating the inner-workings of the 529 world in a four-part series titled “College Savings Uncovered.” 

  • College Savings Discussed During NAST Annual Conference

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    By Alabama State Treasurer Young Boozer
    September 23, 2014

    Grand Hotel - ariel viewwebFrom September 6-10, the NAST* Annual Conference was held at the Grand Hotel on Mackinac Island, Michigan. It was my first visit there and I know exactly why they call it the Grand Hotel. It is massive, impressive and unique. The weather was spectacular while we were there. Even though it may be a bit difficult to travel to the island, the entire experience is well worth the effort.