529 Savings Plans Help Grandparents Contribute to College Savings

Parents are saving less for childrens' college education, and research shows many ask grandparents for help. A story in today's Chicago Tribune reports new research from the College Savings Foundation revealing that parents are saving less for their childrens' college education than last year and that more people have "saved nothing at all."

These alarming facts paired with ever-increasing tuition rates make this a perfect time to consider creative and effective approaches to enrich your child's future such as:

1. 529 Savings Plans Allow Families to Plan ahead. Way ahead!
It's literally never too early to begin saving for your child's education - even during infancy. During tough economic times a 529 savings plan can help you stick to your college savings plan.

2. Enlist the Grandparents
"The State of College Savings" research indicates that 65 percent of grandparents are already planning to contribute to their grandchildren's higher education fund! A college savings investment can cover one semester or more. 529 plan benefits have options regardless of the investment grandparents are able to make.

3. Lock-in Low Rates
Tuition rates are at an all-time high! In the state of Illinois, public university tuition rises an average of nearly 8 percent per year. That's why programs such as the College Illinois! College Illinois! to learn how to secure future tuition through custom programs that fit any budget! To read the full article on college savings research visit the Chicago Tribune.