NU Online News Service, April 12, 2004, 1:14 p.m. EDT – Members of Generation X could prove to be a good market for 529 college savings plans.[@@]
MFS Investment Management Boston, Boston, draws that conclusion from results of an informal Web survey it conducted last spring.
When MFS, a unit of Sun Life Financial Inc., Toronto, surveyed 307 financial advisors about the 529 plan market through the Web last spring, it found that the advisors believe that only about 21% of their Gen X clients are saving for college.
More than half of Gen X consumers now have children under age 18, MFS notes.
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But 19% of the advisors’ Gen X clients are using 529 plans, and that means that about 90% of the Gen X clients that are saving for college at all are using 529 plans.