Last year’s financial meltdown and subsequent draining of trillions of dollars of wealth from the economy has caused hardship for many American families. Most keenly being hit are those whose children are about to start college or are already in school — education money set aside for the past five, ten even twenty years or more may no longer be available to them.
Not every state’s college savings plan program also known as 529 savings plans is performing poorly according to a recent survey conducted by SavingForCollege.com, a Bankrate, Inc. company. Florida’s plan finished first for both one- and three-year composite averages, while the Louisiana plan has performed the best over the past five years.
“The year 2008 was very difficult for 529 savings plans,” commented Savingforcollege.com founder Joseph Hurley. “Most could not escape the turmoil in the stock and bond markets, although many conservative options managed to achieve positive returns.”
In producing its rankings, Savingforcollege.com compared the reported investment performance of a subset of portfolios from each 529 savings plan. Portfolios were selected based on their mix of stocks, bonds, and money-market funds, allowing for an apples-to-apples comparison in seven different asset-allocation categories.
Savingforcollege.com also produces rankings for advisor-sold 529 plans, available through a subscription. Rankings are updated each quarter.
Some states allow out of state residents to enroll in their plans though participants are not required to attend in-state schools. This can be particularly helpful for the family whose home state plan isn’t measuring up to expectations or whose investment options are too limiting.
Visit SavingForCollege.com for survey results and also SayStudent.com for financing options.
-------------------------------------------------------------------------------------------------------------
end of post idea
-------------------------------------------------------------------------------------------------------------
view home improvement ideas at our Photo Remodeling center
Helpful article? Leave us a quick comment below.
And please share this article within your social networks.
