Spending & Earning
Parents Counting on 529 Plans to Pay for College Feel Market Pain
Families preparing to cover college bills with money in the popular investment accounts have taken a hit with stocks moving lower.
Parents preparing to pay college tuition with money in 529 plans have seen their savings decline as stocks slide.
Photographer: Stefan Wermuth/BloombergTakeaways NEW
Trade-war driven stock market volatility and recession fears are making it even harder for US parents to pay for college.
As high school seniors ponder their final decisions on where to attend, anxious parents, some of whom have been saving for nearly two decades, are watching their 529 plans slide and grappling with concerns that the US economy will take a major hit from President Donald Trump’s trade war.