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April 30, 2012

Watch those fees on college savings plans

  • Plans sold through financial advisers or brokers charge more than twice as much in fees than plans parents choose directly through states and manage on their own.
    • By MARK JEWELL
    AP Personal Finance Writer

    BOSTON — Rising college costs have become an election campaign issue. President Obama spoke at three campuses last week, vowing to keep student loans affordable. He's also threatened to cut federal aid for colleges that fail to keep tuition increases in check.

    Obama is spotlighting the issue because he's aware how many voters fret about paying for a child's education without draining retirement savings. As a necessity, parents and their children should pay close attention to the costs they'll pay and the schools they select.


     
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