MPR's Martin Moylan reported this morning on Morning Edition that the current job and stock markets have put a double whammy of a squeeze on parents' abilities to save for college. Here's his lead:
You can get a good read on parents' college-savings efforts by looking at so-called 529 plans. They're a very popular vehicle for college savings. Money put into 529 plans grows tax free and about a third of parents use them.
Moylan goes on to report that while contributions to plans have seen reduction as of late, parents and grandparents continue to open accounts to fund their child's education. Read and listen to the entire story here. How has the current economy affected your ability to save for your child's education? Have you employed any new strategies? Don't have kids? How has it affected your ability to save for retirement, or just to save in general?
This is an open discussion, so you're welcome to link to your related Gather articles or other online resources. Your comments & articles may be quoted on http://minnesota.publicradio.org/your_voice/ or on mpr.org.
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