Mercer Bullard, president and founder of
"There should e a good reason for a government to enter into an area populated by private actors an even better reason to give them a monopoly," Bullard reasons.
But state treasurers see otherwise. "Higher education, and making higher education affordable and accessible, is a primary-policy issue," Indiana Treasurer Tim Berry told InvestmentNews.com. Executive Director of the
Cantor added that the state often joins with a private business to sell and distribute the plan. Also, she noted that many people cannot afford to make the minimum contributions required by many mutual funds, and so states actually allow individuals with lower incomes to be able to participate in these types of plans, while financial services companies often market to higher-income people.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.