Results for "college savings"

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Families want details on how much to save for college

August 25, 2016

Families want more specific recommendations about how much they need save to cover the cost of college for their children, as most are on track to come up short of their goals by the time their kids head off to school. Only about 29% of families...

What grade does your state's 529 plan get?

August 25, 2016

Your client's child is headed off to school. How well has that 529 done for him the past five years? If he is using a college savings plan in New York, Pennsylvania or Iowa, his funds get an A. If he has chosen South Dakota or West Virginia,...

Financial advisers help clients graduate from student debt

August 7, 2016

Kirsten Buccigrossi graduated in 2010 with $32,000 in student debt spread out over 13 loans. When she tried to lease a car five years later, she discovered the number of loans was hurting her credit score. Ms. Buccigrossi, a sales and marketing...

Amazon and Wells Fargo latest to team up on student loans

July 22, 2016 and Wells Fargo are the latest companies trying to attract retail customers by helping them with one of the nation's most vexing personal finance issues: paying the exorbitant cost of attending college. Wells Fargo Education Financial...

Direct-sold 529 college savings plans grew faster than adviser-sold plans in 2015

May 27, 2016

College savings plan assets grew 4.3% to $227.3 billion as of Dec. 31 from a year earlier, according to a report from Morningstar. Net flows produced all of the asset growth of the 84 U.S. 529 college plans from the previous year's total of...

More Americans today are fuzzy on what 529 college savings plans do

May 17, 2016

The tax-advantaged college savings plans established by Congress 20 years ago are less well-known today than they were a year ago. About 72% of Americans cannot identify a Section 529 savings plan as being for college savings, according to a...

Next hot thing in 529 college savings plans? Robo-advice

May 12, 2016

Twenty years after Section 529 plans were created to help families save tax-free for the high costs of college, the industry is poised to welcome a new player: the robo-adviser. Digital advice providers are predicted to be the next platform...

Obama daughter set for gap year before Harvard, but it's not for everyone

May 2, 2016

A gap year such as the White House announced Malia Obama will take after graduating from high school next month and before she starts at Harvard University in 2017 can benefit some young adults along their scholastic journey. Or, it can be a...

College debt is a burden to all

May 1, 2016

Outstanding college debt now exceeds $1.3 trillion, a burden not only for the students who are on the hook to pay it back, but their families and the entire nation. Once students graduate, the loans they must start paying off crowd out spending...

Feds seek to make it easier to restructure student loan payments

April 29, 2016

The government offers lots of programs to help student borrowers repay their federal loans on time, yet one in four people with student debts due are currently in default or teetering on the edge. In an effort to keep people on track with their...

College savings plans to lobby for unlimited investment changes

March 10, 2016

The college savings community is pushing Congress to tweak the 20-year-old legislation that created tax-advantaged 529 plans, to allow for unlimited investment changes. Today account holders can make only two investment adjustments a year to...

States working on new savings accounts for disabled families

February 29, 2016

Alabama's treasurer Young Boozer took up the chairmanship of the College Savings Plans Network at the start of the year, just as he and other state officials were trying to deliver a new tax-advantaged savings plan for disabled children. Mr....

Help women tackle their larger student debt burden

February 12, 2016

Women have yet another financial concern that weighs more heavily on their shoulders than on men's. College-educated women are taking a longer time paying off the debt they incurred to attend school, new research has found. In 2012, working...

How student debt is clouding future retirement income

February 3, 2016

Student debt levels have have mushroomed, and Americans have saved little for retirement. The relationship between those two things is not obvious. So just how does having a big slug of student debt actually hurt the ability to prepare for a...

529 college savings plan tricks and traps

December 30, 2015

Section 529 college savings plans offer investors the great benefit of avoiding federal taxes on the growth of contributions (and some offer state tax incentives) as long as the assets are used to pay for eligible college expenses. But investors...

Is your 529 college plan one of the four with Morningstar gold?

October 20, 2015

Four college savings programs took home the gold from Morningstar Inc. in its latest review of 529 plans — the same four that ran away with the top rankings last year. The top spots went to Alaska's T. Rowe Price College Savings Plan, managed...

Adviser explains why and how to move to a retainer model

October 6, 2015

Scott Kahan concluded 13 years ago that the amount his financial advisory business charged clients shouldn't change based on market performance, which is what occurs when client fees are based on assets under management. The adviser, founder...

Advisers still aren't taking advantage of the opportunities, benefits 529s can provide clients

September 23, 2015

Advisers are likely familiar with the growth in popularity in 529 college savings plans. Nationally, 529 assets now exceed $235 billion. You may also be familiar with the reasons advisers cite for not introducing these plans to clients, such...

529 plans adding more conservative investment options

September 15, 2015

Hoping to stave off concern from college savers that 529 accounts are too vulnerable to stock market volatility and expected interest rate hikes, some plan managers are switching up the investment choices available to advisers and investors....

Obama executive order requires use of earlier tax returns on college aid forms

September 14, 2015

Families should be able to estimate sooner how much they'll need to come up with to send students to college under a change President Barack Obama announced Monday. The move will allow families to use income data from two years before the student...

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