Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Most Americans Ask Email Routing List Email & Route  Print Print
Tuesday, May 29, 2012

Most Americans Ask "What is the 529 Plan?"

News summary by MFWire's editors

Mutual fund firms with a leg in the college savings plan business may have room to grow their business if they can only get people to discover 529 plans. That is the takeaway from a survey sponsored by brokerage firm Edwards Jones, writes Liz Skinner writes for InvestmentNews.

The BD's survey results show that most Americans who make less than $35,000 a year do not know what the 529 plan is. Only one in four of those Americans know the code for a college savings plan.

Meanwhile, wealthier Americans are much better informed of the plans. Out of the respondents, 62 percent of those that make more than $100,000 annually identified the plan correctly while 57 percent of those earning between $75,000 and $100,000.

May 29 is the 529 Day as formalized by the College Savings Plans Network and many states are holding promotional events around the date.

College savings 529 plans now hold about $144 billion of assets in roughly 10 million active accounts, according to Financial Research Corp. (FRC). 

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use