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Job and stock markets a double-whammy for college savings

Source: minnesota.publi Posted By: Bailey C...4605 days ago

You can get a good read on parents' college-savings efforts by looking at so-called 529 plans. They're a very popular vehicle for college savings. Money put into 529 plans grows tax free and about a third of parents use them.

"We do see a downturn in contributions coming in, which we expect in the market we have today, especially with the job market," said Renee Hill, program manager for Minnesota's 529 plan, known as the Minnesota College Savings Plan.

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