529 College Savings Accounts

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Yeah we use one and between it and our daughters academic scholarship paying for her college has been pretty painless free. You can google best 529 plans and get a lot of info. In just the past month some financial/money emag/website or e newspaper had a great article and rated all the states, at least the top ten and bottom ten. But for the life of me I can't seem to find the article. It was in business week or marketwatch, morningstar etc, one of those I look at for stock info. And you don't have to invest in the 529 plan in the state you live in.

http://news.morningstar.com/article/pfarticle.asp?keyword=529planscollegesavings

The above link is the one I'm thinking of. It popped in while I was writing this. But anyhoo, ya can't swing a dead cat without hitting a best of website, but the one above is a good one.

CB
 
See - Clark Howard's 529 Advice

And - Clark Howard's 529 Plan Guide

Also see Upromise

I've had a Upromise account for several years. They put money into an account when you purchase stuff that give Upromise a kickback. The money is for your kid's education... You Promised ... get it ;) . Anyway, this money can be transfered into a 529 account as well. I'm using New York's 529 plan (I don't have to live in NY to use it) because it has the lowest fees and is easy to transfer Upromise dollars into.
 
I set up a 529 for my son about five years ago in michigan through http://www.misaves.com/index.html

The account I have is administered by TIAA-CREF.

The downside so far is that I haven't been able to contribute to it as much as I would have liked to. After five years, I'm still only about a fourth of the way to paying for an education. Money is tight all the way around- so college savings is hard. And TIAA-CREF's expenses and performance have been less than stellar.
 
This may be a dumb question, but do these 529 plan's provide a tool to estimate how much to save? It'd be nice to have a figure to budget contributions.

Where else can I find tuition projections. My kid is a year old, so tuition by the time she makes it to college may turn out sounding astronomical. :nuts:
 
The younger the child the less it costs to join up. I purchased a Florida plan many years ago and it worked fine for my daughter. She signed up for ROTC to get her extra spending money and after being in Iraq for the last 15 months has more money in her checking account than I do in mine. She is my 1Lt hero.
 
My daughter also participated in Florida's Bright Futures program which really worked out well because she was in a five year degree program. Georgia has the same type program. It's designed for the student that has initiative and a desire to succeed and who only drinks on the weekends. That was my girl.
 
Check out www.savingforcollege.com
Very comprehensive website with lots of great info. Ranks all the state 529s and provides calculators to help determine budget.
Our 529s are with New Hampshire (Fidelity)...never been to the state but they are very flexible plans despite average returns. I'm active duty and a resident of FL so state tax is not a factor. Hope this helps.

r,
Ghageman
 
Great info everyone! I'm not trying to hijack the thread, but I have a related 529 question.

Is your child required to attend a school within the state of the 529 plan? Or can the plan be used anywhere? For example, if I start a 529 plan for my kids through Georgia, are they required to go to a university in Georgia?

Any guidance is greatly appreciated.
 
CountryBoy said:
Yeah we use one and between it and our daughters academic scholarship paying for her college has been pretty painless free. You can google best 529 plans and get a lot of info. In just the past month some financial/money emag/website or e newspaper had a great article and rated all the states, at least the top ten and bottom ten. But for the life of me I can't seem to find the article. It was in business week or marketwatch, morningstar etc, one of those I look at for stock info. And you don't have to invest in the 529 plan in the state you live in.

http://news.morningstar.com/article/pfarticle.asp?keyword=529planscollegesavings

The above link is the one I'm thinking of. It popped in while I was writing this. But anyhoo, ya can't swing a dead cat without hitting a best of website, but the one above is a good one.

CB
Click to expand...

COD, Believe this info from CB may help with your question.
 
My daughter collected her spending money by joining Army ROTC - then they eventually paid for her MBA.
 
That link doesn't work anymore.
Here is a listing of 529 articles on Morning Star.
Search Results: 529

CountryBoy said:
Yeah we use one and between it and our daughters academic scholarship paying for her college has been pretty painless free. You can google best 529 plans and get a lot of info. In just the past month some financial/money emag/website or e newspaper had a great article and rated all the states, at least the top ten and bottom ten. But for the life of me I can't seem to find the article. It was in business week or marketwatch, morningstar etc, one of those I look at for stock info. And you don't have to invest in the 529 plan in the state you live in.

http://news.morningstar.com/article/pfarticle.asp?keyword=529planscollegesavings

The above link is the one I'm thinking of. It popped in while I was writing this. But anyhoo, ya can't swing a dead cat without hitting a best of website, but the one above is a good one.

CB
Click to expand...
 
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