Ranking 529 Plans

Dear Estelle. We frequently read your columns and notice there hasn’t been a recent one on 529’s. We contribute the maximum each year to four grandkids but are not sure we’re evaluating the plans adequately. Are there any websites that rank the different plans so we know whether to keep our money in the Colorado College Invest program? We know investing locally is an advantage on the Colorado State income tax.

Grandparents, Greenwood Village

Interestingly, there is a new study by savingforcollege.com which recently released its quarterly rankings for the top performing 529 plans. Topping the list were District of Columbia, Tennessee, and New York. I have frequently recommended 529’s to families saving for college but there are other options for setting aside money. The National Association of Student Financial Aid Administrators has prepared a variety of resources including a chart that compares different savings plans. Check out this website, www.nasfaa.org.

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