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529 plans: Simply the best way to save for college

Source: chicagotribune.com - May 24, 2017

Every family with young children should have a 529 college savings plan, even if they can only save a small amount every month. Yet a recent study shows that more than half of families trying to save for college have never heard about this great deal.

Sallie Mae, the private student loan lender, has released its annual How America Saves for College report -- and the findings are mixed. Yes, more families are saving for college than in previous years -- 57 percent, up 9 percentage points from the previous year. And the average amount saved is also higher, at $16,380.

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Category: General Business