October 2011

Considering College Savings? Check Out These Top-Rated Savings Plans for College

"The 529 college savings plans can offer hefty tax benefits, depending on your state. "

It’s never too early to start saving for your child’s college tuition.  Costs keep going up, financial aid and grants keep going down, and recent graduates are working years just to pay off their student loans.  Even if things are financially tight for you right now, a small contribution to a college savings plan can add up to a significant dent in tuition costs over several years.

Morningstar published reviews of 83 different 529 investment plans, and new this year, there were no plans that warranted a "bottom" rating.  Of the 83 plans rated, the top six spanned Arkansas, Ohio, Maryland, Nevada, Utah and Virginia.  These plans are: