Evaluate your 529 fund's ranking2 of 6If 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. Related Articles:The student loan shuffleWays to lower tuitionStudent loan consolidationUse 529 for college loansRelated Links:Saving for grandchildRoth or 529 for college?529 plan: What to do nowWhen not to use a 529 plan advertisement
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.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.