Huge impact of economic downturn
Administrators of 529 strategies have felt the issues that came with the recession. Compound savings accounts aren't getting almost as much in contributions anymore. With this, there has been lots of 529 personal savings plan price wars. Consumers always win though. When a child gets into higher education, they can get every little thing paid off after the money goes into portfolios. States have to sponsor the 529 strategies.
At the top, there tends to be cream. Keep that in mind. Clark Howard suggests that these are some of the best 529 higher education savings strategies:
Utah: Utah Educational Savings Plan Trust
Iowa: College Savings Iowa
New York: New York's College Savings Program - Direct Sold
The best of the rest
Alaska: University of Alaska College Savings Plan
Arizona: Fidelity Arizona College Savings Plan
Arkansas: Gift College Investing Plan
California: The Scholarshare College Savings Plan
Colorado: Direct Portfolio College Savings Plan
Connecticut: Connecticut Higher education Trust
Delaware: Delaware College Investment Plan
Georgia: Path2College 529 Plan
Idaho: Idaho College Savings Program (iDeal)
Illinois: Bright Start College Savings Program Direct Sold Plan
Indiana: College Choice 529 Direct Savings Plan
Kentucky: Kentucky Education Savings Plan Trust
Louisiana: Start Saving Program
Maine: Next Gen College Investing Plan - Client Direct Series
Maryland: College Savings Plans of Maryland - College Investment Plan
Massachusetts: U.Fund College Investing Plan
Michigan: Michigan Education Savings Program
Minnesota: Minnesota College Savings Plan
Mississippi: Mississippi Affordable College Savings Program
Missouri: MOST (Vanguard)
Nevada: The Vanguard 529 Savings Plan
New Hampshire: Unique College Investing Plan
New Mexico: The Education Plan's College Savings Program - Direct Sold
North Carolina: North Carolina National College Savings Program (Vanguard)
North Dakota: College Save 529 Plan
Ohio: Ohio College Advantage 529 Savings Plan (Vanguard)
Oklahoma: Oklahoma College Savings Plan
Oregon: Oregon College Savings Plan (Vanguard)
Pennsylvania: Pennsylvania 529 Investment Plan
South Carolina: Future Scholar 529 College Savings Plan - Direct Sold
South Dakota: College Access 529 - Direct Sold
Texas: Texas College Savings Plan
Vermont: Vermont Higher education Investment Plan
Virginia: Virginia Education Savings Trust
The 529 plan that works best for you
An age-based portfolio is something to consider. Before the child gets to 18, it will become more conservative, although it starts stronger. A Coverdell Education Personal savings Account is something to consider. Children in grades 1 through 12 can conserve there at a tax advantage. You've to manage investments yourself while only being able to invest $2,000 a year. With Coverdell’s, state sponsorships are not needed. This is a plus. With Coverdell, banks and brokers let you sign up. Almost every financial institution may have them accessible. Higher education tuition prices could be paid right now also with current costs. That is how some independent 529 strategies work also.
Articles cited
Clark Howard
clarkhoward.com/news/clark-howard/education/clarks-529-guide/nFZS/
Private College 529 Plan
privatecollege529.com/
