5/15/2015 – Your Practice- 529 plans merit study to achieve high client marks (Reuters)

May 18, 2015 Comments Off by

College savings plans are gaining ground, and possibly even a few improvements, making it a good time for financial advisers to revisit their value. State-sponsored 529 plans, numbering over 100 in 49 U.S. states and Washington, D.C., had an estimated $248 billion in assets as of December 2014, reflecting a growth rate of over 9 percent since 2013, according to data from the College Savings Plans Network, an affiliate of the National Association of State Treasurers.

General savings accounts are widely used for college savings, according to a recent survey by education lender Sallie Mae. Nearly half of the 1,988 parents surveyed stashed funds in savings accounts compared to 27 percent who had 529 plans.

Read the full article in Reuters.

Financial Landing 2015

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