Savingforcollege.Com Releases Latest College Savings Plan Rankings in Time for 529 Day
MIAMI (PRWEB) May 22, 2018 -- May 29 (5/29), known as 529 Day or National College Savings Plan Day, is celebrated by raising awareness of the importance of saving for college and the unique benefits offered by 529 college savings plans. And, just in time for 529 Day this year, Savingforcollege.com is releasing its latest 529 plan performance rankings to help families make informed and objective decisions when choosing a college savings plan.
In Savingforcollege.com's newly-released 529 Plan Performance Rankings, Alaska’s T. Rowe Price College Savings Plan and the University of Alaska College Savings Plan were the only plans to rank in the top 10 for the one-, three-, five- and 10-year periods, demonstrating strong investment returns relative to other direct-sold 529 savings plans across the country.
Alaska’s T. Rowe Price College Savings Plan and the University of Alaska College Savings Plan are available nationwide, not just for Alaska residents. Both plans are managed by T. Rowe Price and invest in T. Rowe Price mutual funds. Savings can be used to pay for college, or up to $10,000 per year in K-12 tuition expenses.
Other notable top performing 529 plans include California’s ScholarShare 529, New York’s 529 College Savings Program, Ohio’s CollegeAdvantage 529 Savings Plan and Nevada’s Vanguard 529 Savings Plan.
In producing the quarterly 529 plan rankings, Savingforcollege.com compares the published investment performance of a subset of portfolios from 529 savings plans in every state. Portfolios are selected based on their mix of stocks, bonds, and money-market funds, aiming for an apples-to-apples comparison in seven different asset-allocation categories.
“Our rankings are a helpful tool for families and financial professionals looking to compare college savings options,” commented Matthew Toner, director of institutional research at Savingforcollege.com. "By analyzing different asset allocation categories we are able to identify the 529 plans with the strongest overall performance across portfolios meant for beneficiaries of all ages."
"However, past performance does not guarantee future results, and performance should not be the only consideration when selecting a 529 plan," he said. "It is also important to evaluate the plan’s fees and expenses, assess state income tax benefits and confirm that the 529 plan offers investment options that are aligned with your individual goals."
The full reports showing rankings for all direct-sold 529 plans can be viewed at https://www.savingforcollege.com/529-plans/performance-rankings. For premium subscribers, Savingforcollege.com also produces separate rankings for advisor-sold 529 plans and for RIA-channel 529 plans, along with the investment data and scoring used in all ranking reports. Visit http://www.savingforcollege.com/subscriptions/ to sign up and receive 50% your first month. Rankings are updated each quarter.
About Savingforcollege.com: Savingforcollege.com has been the leading independent authority on 529 savings plans since 1999. The site compiles and analyzes data, and creates content and tools to provide parents, financial professionals and state policymakers with resources to help them understand how to meet the challenge of ever-increasing education costs.
Kathryn Flynn, Saving For College LLC, http://www.savingforcollege.com, +1 585-286-5426 Ext: 116, [email protected]
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