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State-run College Saving Accounts Going Bust


State-run College Saving Accounts Going Bust

Old 03-10-2009, 01:30 PM
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Default State-run College Saving Accounts Going Bust

In the last couple of weeks there was a thread about the advantages of saving for a kid's college tuition in advance with a state-run savings acct. I can't find it, posting a follow up here.

State-Run Pre-Paid Tuition Trust Funds Running Out of Money

State-run trust funds for parents who want to pay off college tuition before their children enroll are running short on cash, and program officials worry they won't be able to pay for students who are counting on the money.

The rising cost of college and plunging stock market have combined to create a disparity between what some of the 18 states' prepaid tuition plans have on the books and what they're supposed to pay. The worst case is in Alabama, ... state officials are telling parents the full cost of college isn't a sure thing. ...

The pain isn't just being felt in Alabama. Among the other states with fewer assets than anticipated liabilities are Tennessee, South Carolina, West Virginia and Washington. ...


Old 03-10-2009, 01:49 PM
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Say it isn't so. A State or Federal run program is not working as planned. Let me mark the calendar. It's a dark day in history.
Old 03-10-2009, 01:59 PM
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I can't say I am suprised.

No goverment run program touches my money unless I am forced to turn it over to them.
Old 03-10-2009, 02:33 PM
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Here is thread, originally posted by Your's Truly, regarding 529 Plans: http://www.thehulltruth.com/dockside...529-plans.html

And you have reinforced my concerns.

FWIW, the guy on the left is our government. I'm a Carpenter. Need I say more?
Old 03-10-2009, 03:03 PM
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Don't worry Obama will pump more money into it.

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