529 News

Hartford survey shows more families ready to save for college

(December 20, 2009) - According to The Hartford's online survey of 520 parents and grandparents, 80 percent of investors who work with a financial advisor and who have a child or grandchild under the age of 15, are saving for college for their children and grandchildren (up from 73 percent in 2007). And the majority of them – 60 percent – are using a 529 college savings plan to save for college (up from 30 percent in 2007).

The 20 percent who are not yet saving for college cite saving for their own retirement as the No. 1 reason why, followed by paying off a mortgage (25 percent) and paying off credit card debt (15 percent).

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