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Money and Finances
Reply to "529 plans & Possible State Financial Insolvency"
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[quote=Anonymous]I think that the big worry with insolvency is with the pre-paid college tuition type plans, not the standard 401K type 529 college savings plans. The pre-paid tuition plans typically have a pitch where if you pay them $30,0000 when you child is 5 years old, they will guarantee all college costs will be paid for a state university. For the standard 401K type, you invest your own money in various mutual funds and your money grows over time and whatever money you have when your child is in college you can spend. There isn't any risk with insolvency in those plans since you actually hold the underlying assets (i.e. the shares of the mutual funds). [/quote]
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