529 plans

Missouri State Treasurer Sarah Steelman has declared May 29 as “529 College Savings Day,” in part to draw attention to the tax-advantaged college savings plans and to roll out a new Web-based resource that allows family and friends to make online contributions.

After a year of record growth, Hartford Financial Services wants to expand its 529 college savings business over the next two years by increasing sales and, perhaps, in what would be a shift in strategy, by becoming a plan sponsor in another state.

After a year of record growth, Hartford Financial Services Inc. wants to expand its 529 college savings business over the next two years by increasing sales and perhaps by becoming a plan sponsor in another state.

One of the nation’s largest student loan operations announced this week that it will suspend making federal-guarantee loans starting next month, according to the New York Times.

The credit crunch is crunching another corner of the market: securities tied to student loans, according to the Wall Street Journal.

Fidelity Investments released the results of its first annual College Savings Indicator on Wednesday, which tracks how well prepared parents are to meet future college costs, which are currently projected to top an average of $100,000 nationwide for today’s high school seniors.

Much as target-date funds are gaining traction in 401(k) plans, parents investing in 529 college savings plans are overwhelmingly preferring age-based funds that become more conservative as a child’s first year of college approaches, Investment News reports, citing speakers at the recent 529 Technical Conference.

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Parents certainly are aware of the need to save for children's college education, but not all are stashing away money in appropriate investment vehicles, such as 529s that are tax-free.

The "Show Me" State of Missouri is about to show the 529 college savings plan marketplace just how innovative it can be.

An intended class-action lawsuit filed in Illinois in mid-May has the potential to challenge how all state Treasury offices apply tax deductions for contributions to in-state, versus out-of-state, 529 college savings plans.

Money Management Executive this week has released a comprehensive, unique set of 529 data to help mutual fund companies, financial advisers and their clients more accurately plan college savings in both the short- and long-term.

As Money Management Executive launches this year's set of State Tuition Index and Datasheet reports, a new paradigm for evaluating college savings plan is introduced. With MME's TuitionMAR (minimally acceptable return) statistics, a set of core absolute return benchmarks is now available to assist mutual fund companies, 529 plan sponsors and financial planners in evaluating the ongoing success of a college savings plan investment.

NEW YORK-Future generations are going to be saddled with tremendous college debt if the financial industry doesn't do a better job of talking to families about the importance of saving for their children's higher education, according to panelists at an AllianceBernstein Investments event here last week, "Perspectives on College Savings."

New York State may have changed the way mutual fund companies compete in the 529 college savings plan market.

What does it take to find a financial advisor well versed in 529 plans and other college savings vehicles?