A first: college aid groups to meet

A first-of-its-kind summit meeting to explore common ground among the Section 529 college savings plan industry and college financial aid and student loan groups is set to take place in Washington in late May or early June. The summit will be conducted in a roundtable format among leaders from the three groups as well as academics, according to Kevin McMullen, chairman of the Washington-based College Savings Foundation, an advocacy group for the 529 industry that is organizing the meeting. “This has been an unexplored opportunity for too long,” said Mr. McMullen, counsel for State Farm Insurance Cos. Insurance Cos. in Bloomington, Ill. “We both have a common goal — to make sure people can pay for college — and this meeting is a recognition that we can, and should work together.” “I think it’s a great idea,” said Scott Prince, vice president of marketing for The Educational Resources Institute, a Boston-based non-profit, that guarantees student loans and promotes educational opportunities. “People think that saving for college will hurt their chances of getting financial aid, and any effort that sharpens the message that savings, aid and loans are all needed for college is welcome.” For a full report on this story, please see the February 18 issue of Investment News.