college

4 strategies for resetting college savings

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If you're going to invest in a 529 college savings plan, it's important to find one that has low fees and offers good investment choices.

"The less money you have to invest, the more fees will take up a bigger percentage of your investment, and that will leave you with less money saved for college," says Carey.

Investors can research inexpensive 529 plans by reading fund comparisons on the Internet or by reviewing fund rankings on research websites such as Morningstar. People can use these resources to determine how a particular college savings plan is performing compared to other plans, he says.

If your money is in a less-than-desirable fund, Carey says it's likely in your best interest to move it. "You can switch an account once every 12 months, and you can make investment changes once a year," he says.


 

 

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