Despite the recent economic roller coaster, many experts argue that investing in a 529 plan is still a good long-term strategy for college savings.
Independent investment research firm Morningstar Inc.’s sixth annual survey of the best and worst 529 college-savings plans provides great news for Virginians. Specifically, Morningstar named both the Virginia Education Savings Trust (Virginia College Savings Plan Board) and the Virginia CollegeAmerica 529 Savings Plan (American Funds) to its list of the Top 5 Best 529 Plans.
Morningstar’s report does urge caution though, saying that investors must not only be mindful when selecting a 529 plan, but that they need to keep track of its performance, fees, and investment options.
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