Education and Your Money by AnnaMaria Andriotis (Author Archive)
Published October 5, 2010 Is this the real beginning of the end for 529 college savings plans?
The Long Slow Decline of the 529 Plan
Read more: Wall Street Journal Ever since the crash, parents have been wary of 529 plans. Now they’re doing something about it. Parents who already have accounts are contributing less – the average monthly contribution for the second quarter of 2010 was just $205, down 21% from the same period a year ago, according to the Financial Research Corporation.
And while investors are still opening 529s, they are doing so in much smaller numbers. New savers are on pace to open about 324,000 new accounts this year – less than half the number of new accounts last year.
“Parents are looking for more conservative places to park money,” says Deborah Fox, founder of the financial-planning firm Fox College Funding. More »
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