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529 News

Recent State News

Tennessee provides matching TNStars 529 grant to low-income families

(October 2, 2014) - The Tennessee Treasury department has announced a new matching grant program for low-income families who are investing in the state's TNStars college savings program. Under the Tennessee Investments Preparing Scholars program, eligible families who invest at least $25 in TNStars will qualify to receive $100 from the state. Families who invest at least $125 per year will receive the maximum matching grant of $500.

NorthStar Financial Services Group to take over Texas 529 plans

(September 4, 2014) - According to Ignites, NorthStar Financial Services Group is expected to make an entrance into the 529 market by becoming the program manager of Texas' three 529 college savings plans in September 2014. The direct-sold Texas College Savings Plan, advisor-sold LoneStar 529 Plan and prepaid Texas Tuition Promise Fund are all currently managed by OFI Private Investments, who did not rebid when their contract expired at the end of 2012.

Update as of September 2014:
The transition of program manager for the Texas college savings plans from OFI Private Investments to NorthStar Financial Services Group, LLC is now complete.

New Mexico seeks program manager for The Education Plan and Scholar's Edge

(May 9, 2014) - The New Mexico Education Trust Board has issued an RFP to select a new program manager for its two 529 plans - The Education Plan, which may be purchased directly, and the advisor-sold Scholar's Edge plan. The contract with the current program manager, OppenheimerFunds, is set to expire on May 25, 2015.

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