College 529 Saving Plans Are Definitely Not All Created Equal

Here’s an important list for those of you who are saving money to put your kids through college or possibly socking away some dough to pay for your own continuing education. 529 plans are being pushed by many investment advisors as a good way to save tax-sheltered money for a kid’s college education. But I’ve learned from direct experience (I have a 529 plan for my younger son) that buying these investments is tricky. Each state has its own 529 plan, and you are not required to invest in your own state’s plan. Because state politicians choose who will run 529 investment plans, there’s a huge variation in quality of the plans from state to state. It’s important to shop around. If you’re in the market for a 529 plan, take a good look at Morningstar’s latest list of best and worst college 529 savings plans.
Also, here is a series of good articles on paying for your online college degree.