If you've been following my New Year's resolutions, you know that I'm investigating college savings options including 529 plans. So I was interested to read this article from Smart Money that rates the best and worst 529 plans. First, their list of the top performers:
- Alaska College
- Nebraska College Savings
- Utah Educational
Now, the bottom of the barrel:
- Alabama Higher Education
- Arizona PF 529
- Arizona SM&R Family
- Nebraska AIM
- North Carolina National
- North Dakota SAVE
- Wyoming College Achievement
And they share some good news for those of us looking at 529s as savings options:
More than a dozen states have cut their fees in 2005, according to the report.
Previously criticized for burying information about fees in 200-page prospectuses, most 529 plans now follow standard disclosure guidelines issued by the College Savings Plan Network, an industry group. This means that comparing different state plans is getting easier for consumers, as the plans are now encouraged, though not required, by the CSPN to list their various fees and expenses in easy-to-understand standardized tables.
The article also mentions a few other resources you may want to check out if you're trying to pick the best 529 for your needs. I know I'm going to look them over.
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