Comments on: Rating the Best College Savings Plans

By: Brandi

Brandi — Thu, 17 Nov 2011 22:59:15 +0000

The VEST plan actually has more choices than most 529 plans. You can invest in age-based strategies, strategy based plans, or you can choose individual funds. They have a wide range, from cash/bonds, large cap, growth, international and even a REIT fund. All the funds use Vanguard. The overall costs of this plan is one of the lowest in the industry. There are no brokers fees, no set up fee (use the coupon code), no annual fees. There are only the underlying fund fees and these are the lowest in the industry among index funds. This is one of the best plans in the US.

By: Starting Early: The College Savings Fund

Starting Early: The College Savings Fund — Wed, 15 Sep 2010 18:57:27 +0000

[...] for the modest amount we currently have in 529 plans, and a 7% growth rate of the funds (which may be a tad optimistic given recent history), that same [...]

By: Stick With Stocks Or Pay Off The Mortgage? | Frugal Dad

Stick With Stocks Or Pay Off The Mortgage? | Frugal Dad — Mon, 22 Mar 2010 14:14:37 +0000

[...] paying off their mortgage a priority, once other financial goals such as retirement investing and saving for college are in place. However, I’m going to go a step further. I believe, over the next decade, we [...]

By: kaplan

kaplan — Thu, 06 Aug 2009 14:43:50 +0000

I compared NY, Utah and Virgina’s 529 plans and the one thing that concerns me is the following:

Does the sponsoring state exclude the value of an account for state financial aid purposes?

NY: yes
Utah and Virgina: No

The aspect that is attracting me to 529s was that my child’s chances of getting financial aid was better. Am I reading this correctly? If investing in Virgina or Utah’s 529 will count against my child’s chances of receiving financial aid?

Can anyone explain this?

By: How Much House Can I Afford? | Frugal Dad

How Much House Can I Afford? | Frugal Dad — Fri, 24 Jul 2009 12:42:44 +0000

[...] To do so would mean giving up money towards another financial goal such as debt freedom, kids college savings plans, or even an early [...]

By: Personal Finance QuickHits | Prime Time Money

Personal Finance QuickHits | Prime Time Money — Mon, 20 Jul 2009 15:55:32 +0000

[...] Financial Intimacy in Your Marriage The Best 529 College Savings Plans Taxes: Traditional 401k vs Roth 401k 5 Easy and Cheap Home Repairs that will Save you Money Help [...]

By: James

James — Mon, 20 Jul 2009 15:22:57 +0000

I have two separate 529 plans in Virgina. Both of them are the VEST 529. They have a few options, but pretty much all of them are age based and adjust automatically as the kids age. Really easy to setup the ACH transfers too. Also, management fees are very low. When I joined there was an application fee, but I believe this is waived now.

By: Kathy

Kathy — Mon, 20 Jul 2009 14:00:34 +0000

You should consider the Monetta Young Investor Fund. Great performance,low fees,low minimum and a financial literacy program that will get the kids involved in the savings process. If you want tax advantage of a 529, open a Coverdell account. This is the ideal college saving option ,not a 529 plan.Website: younginvestorfund.com

By: Kristen

Kristen — Mon, 20 Jul 2009 02:52:46 +0000

If you do opt for a 529 – be sure to watch out for excessive fees. Advisor based fees tend to be absurdly expensive. Direct-sold funds tend to be the least expensive. Also, funds run by Vanguard and TIAA-CREF generally have low fees.

By: Sandy E.

Sandy E. — Sat, 18 Jul 2009 22:45:40 +0000

Have you considered ESAs instead? Education Savings Accounts, called Education IRA. For a variety of reasons, this is Dave Ramsey’s first choice over any of the 529 plans. He has a chapter devoted to College Funding in his Total Money Makeover book. He makes some good points. I would go with an ESA instead. He says that the best 529 plans available are the flexible plans, not the 529 life phase plan or a 529 fixed portfolio plan, but still 529′s are his second choice — the first being an ESA plan.