With the high cost of tuition, a lot of families start thinking early about how to save enough money for their children’s college education. One option for people who have the means to do that is a college savings plan known as a 529. It lets people invest college savings without taxing the gains on that investment. But a report from the research firm Morningstar says only about 16 percent of families who are saving for college use the 529 plans, sponsored by states. But why might that be?
“I think the best compliment I can give is not to say how much your programs have taught me (a ton), but how much Marketplace has motivated me to go out and teach myself.” – Michael in Arlington, VABEFORE YOU GO