England Finance

Sep 30 2017

Compare 529 Plans #online #college #cost #comparison


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Compare 529 Plans

Our 529 comparison tool allows you to customize your comparison based on the factors that are important to you.

Savings Plans work much like a 401K or IRA by investing your contributions in mutual funds or similar investments. The plan will offer you several investment options from which to choose. Your account will go up or down in value based on the performance of the particular option you select. Savings plans are either Broker Sold or Direct Sold.

STEP 1 – SELECT TYPE OF PLAN

DIRECT SOLD SAVINGS PROGRAMS

Compare only 529 plans where investors purchase directly from the plan manager. You will have to rely on your own research to identify your best options, or you can hire a fee-based financial planner. These plans are approved and monitored by each state and are managed by professional investment firms. There are no sales charges with these plans.

BROKER SOLD SAVINGS PROGRAMS

Compare only 529 plans sold through financial advisers. Using an adviser means you get the benefit of advice and expertise of an investment professional, but may mean you pay sales charges or incur other fees that are used to compensate the adviser.

Prepaid Plans let you pre-pay all or part of the costs of an in-state public college education. They may also be converted for use at private and out-of-state colleges. The Private College 529 Plan is a separate prepaid plan for private colleges. There are 2 types of Prepaid Plans: Contract Plans and Unit Plans.

STEP 1 – SELECT TYPE OF PLAN

Compare 529 plans that allow you to purchase a contract covering from 1 to 5 years of tuition either on a lump sum or installment basis.

PREPAID UNIT/GUARANTEED SAVINGS

Compare 529 plans that allow you to buy ‘units’ of tuition which may equate to credits or hours.

529 ABLE accounts allow americans living with disabilities to save money for college and other expenses in a tax-deferred account without affecting their eligibility to receive medicaid, supplemental security income or other public benefits.

STEP 2 – SELECT COMPARISON CRITERIA


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