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The Best and Worst 529 College Savings Plans of 2014

baby girl

My weekends are packed with activities to entertain my 2-year-old daughter Chloe. Virtually all my friends have children, from newborns to kindergarten age. We all reminisce about the days when college was a third of the cost and wonder how the heck we will pay for our kids to go to college. With 50 colleges charging over $60,000 a year, where will prices be in another 10-15 years?!?!? My dad always thinks outside the box and he thought I should train to become a football placekicker so I could earn a scholarship. While definitely a cool idea, it never progressed past a Nerf football being kicked about 15 yards in the backyard.

A Holiday Story of Hope, Opportunity and Helping Yourself

Runnymede

Here is a diversion from the typical Runnymede blog article. My friend and fellow Chatham High School alumnus, Sean Kelly, brought this story to my attention and it so touched me that I am compelled to share it with you.

Grandparents’ 529 College Distributions Can Be a Ticking Time Bomb

Are you a grandparent thinking of helping out a grandchild fund their college expenses? Be aware of 529 plan structures to ensure that your gift doesn’t turn into a bomb that destroys your grandchild’s financial aid.

According to a recent Fidelity Investments survey, 65% of parents saving for college expect grandparents to contribute. In recent years, a growing number of grandparents have set up 529 college savings plans but before writing a check, grandparents must be aware of the potential pitfalls. Grandparents shouldn’t have to worry about their 529 gift but many websites don’t explain things clearly and many people are shocked when things go seriously wrong. Don’t be left like tennis legend John McEnroe who famously stated “You can’t be serious!”

Saving For College 529 Plans with Upromise

As a new father, I marvel at all the new things my one year old daughter Chloe does. But like all new parents, I joke and mostly fear that the cost of education will be in the millions by the time she graduates high school. While I pray that education inflation slows from its ridiculous pace of 7%+ per annum, I know that I need to prepare for the worst which means saving as much money as possible sooner rather than later.