529 PLANS

529 News

Fidelity survey shows college savers having tougher time

(October 2, 2008) - The good news: parents investing in a 529 plan are on track to cover 40% of their child's college education costs, double the rate of parents nationwide. The bad news: economic concerns have caused 34% of parents to decrease the amount they are saving or to stop saving entirely.

Fidelity Investments' second annual College Savings Indicator gauged the preparedness of parents to pay for college costs. With tuition continuing to increase at twice the rate of inflation, and with home equity dropping, more parents expect to turn to student loans and/or delay retirement.

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