Your rates of bank

The notice at the bottom of every advertisement for a 529 savings plan includes the warning: “Accounts may lose value.” Millions of disheartened parents are now all-too-aware of just how accurate that statement is as they open their September account statements and see that their 529 savings accounts have, in fact, lost money.- advertisement -

The stock market swoon of recent weeks has not only caused account values to drop but in many cases has created losses, as balances drop below original contributions.

So what are parents to do as they fret about losing money in their college savings accounts at the same time that college costs continue their relentless rise? Here are some suggestions, based on the current age of your child.

(more…)