Concerns with fees levied by traditional providers of 529 college savings plans has increased by more than half since 2012, according to new research.
Private College 529 Plan, a prepaid tuition plan sponsored by more than 270 leading private colleges and universities, unveils this finding in a survey of registered investment advisors. Conducted at the National TD Ameritrade conference to gauge opinions on popular college savings options, the research reveals changes in funding of college savings plans.
The report finds that RIAs’ concerns about the fees imposed by providers of 529 college savings plans has increased to 45 percent in 2014 from 28 percent in 2012. Even so, an overwhelming majority of survey respondents (92 percent) recommend using a traditional 529 plan with their clients.