529 College Plan.com

New York selects JP Morgan for 529 plan

editor — Sun, 17 Jul 2011 18:56:01 +0000

New York has tapped JP Morgan to run the state’s 1.9 billion dollar advisor-sold 529 plan for the next seven years. The Vanguard Group will continue to serve as investment manager for New York’s direct-sold 529 plan.

Pennsylvania’s Public University Tuition Is Most Expensive

editor — Sun, 17 Jul 2011 18:51:08 +0000

According to a report from Investment News, Pennsylvania possesses the 2 most expensive public colleges in the nation. The University of Pittsburgh ranks second at $14,154 per year and Pennsylvania State University earns the dubious top spot honors coming in at $14,416.

The state’s current 529 program, the Pennsylvania 529 Investment Plan, offers tax deductions of $13000 to single fliers and $26000 to joint filers.

Minnesota College Savings Plan Announces Sweepstakes

editor — Tue, 31 May 2011 01:44:45 +0000

The Minnesota College Savings Plan will distribute $1000 prizes to 15 lucky participants in its Summer Reading Program.

From the website: Minnesota College Savings Plan

1.Enroll your child in the Summer Reading Program at your local library.
Ask library staff for information on the Destination College Savings sweepstakes.
2.Fill out the official sweepstakes entry card and return the postage-paid card to your librarian or drop it in the mail.
3.Pick up a Minnesota College Savings Plan brochure to learn more about saving for your child’s future college education.

Entries must be postmarked by August 12, 2011, and received by August 19, 2011

National 529 Savings Day

editor — Sun, 29 May 2011 18:34:46 +0000

Several 529 plan providers and sponsors have tabbed May 29 (5/29) “National 529 Savings Day” in order to publicize the importance of saving for higher education.

For example, New York’s College Savings Program Direct Plan launched a $500 sweepstakes.

“For a limited time New York’s 529 College Savings Program Direct Plan is offering a chance to win a $500 contribution to a New York 529 Direct Plan account. Simply fill out this form online for your chance to win. No purchase necessary. One entry per person. See Official Rules for details.”

Entries must be received by 5/31/2011 AT 11:59PM, Eastern Time, and winners must have a existing account or a to-be-established 529 Account.

New York’s College Savings Program

Study finds students with 529 plans carry 20% less debt

editor — Sat, 28 May 2011 17:59:32 +0000

Fidelity’s Cost-Conscious College Graduates Survey reveals that students, who are the beneficiaries of 529 plans, carry 20% less student loan debt than their peers without the funding. The same study also surveyed the graduating class of 2011 and found approximately 78% of graduates carry some debt after college totaling $39,900. Considering the possibility of saving $8000 for a typical college student’s expenses, 529 plans have made progress on becoming a mainstream method for paying for higher education.

TIAA-CREF Lowers Expense Ratios

editor — Mon, 23 May 2011 03:03:05 +0000

TIAA-CREF will lower its expense ratios for several of the 529 plans it administers: Oregon College Savings Plan, Connecticut Higher Education 529 College Savings Program, Minnesota College Savings, and Georgia’s Path2College 529 Plan.

The reduction in expenses will take place among all of the available funds, but are mainly in response to negative returns generated by their money market funds. Money market funds, which must hold ultra-conservative investments, have produced downward results thanks in large part to the management fees that are assessed to investors.

Therefore, TIAA-CREF will lower expenses in order to provide a better chance for the stable returns money market investors are seeking.

North Dakota’s College SAVE Plan Announces Grant

editor — Fri, 20 May 2011 13:43:42 +0000

Bank of North Dakota, administrator for the state’s College SAVE plan, has announced a newly formed grant program. A $100 contribution will be awarded to children born in North Dakota who sign up for the state’s 529 college plan by the time the child is 1 year old. Additionally, there must be a corresponding matching contribution to the account before the child turns 4 years old in order to keep the grant.

Unlike College SAVE plan’s existing grant program, there isn’t any income limitations to qualify for the award; all North Dakota’s residents are eligible for the grant.

UA College Savings Plan Executive Director on YouTube

editor — Mon, 09 May 2011 00:58:56 +0000

More 529 plans are taking to social media, particularly YouTube, to help spread the word about their programs.
In this video, University of Alaska College Savings Plan Executive Director Linda English discusses the plan she oversees.

Oklahoma 529 College Plan announces contest

editor — Sun, 01 May 2011 15:56:38 +0000

The Oklahoma state 529 college plan has announced a contest where a lucky family can win a $5529 dollar plan contribution. Oklahoma has taken to to YouTube to spead the word. You can view the short PSA for the sweepstakes here:

Additionally, the program has posted a video on the basics of the Oklahoma state 529 plan.

Iowa baby wins $1000 529 plan contribution

editor — Sun, 24 Apr 2011 16:13:22 +0000

Iowa State Treasurer Michael Fitzgerald awarded a $1000 prize to Baby Avery Ellison’s 529 college plan.

Her parents, Mathew and Samantha, entered Avery into the monthly sweepstakes sponsored by the College Savings Iowa Plan and the family became the lucky winners.

Incentives such as raffles and matching contributions are becoming more common among 529 savings plans, so 529 plan owners would be wise to investigate promotions to see if they make sense for their families.

Free and no obligation promotions usually provide the best value, but other cash rewards programs such as Upromise can also be an effective way to save for education.