<p>In reading through these threads on financial aid, merit scholarships, etc. I am very surprised at the lack of discussion of 529 plans or other college savings plans. I work for a financial advisor and many of our clients have these plans. So I'm curious as to they aren't mentioned here.</p>
<p>Because the truth is, most people don’t have college savings accts for a variety of reasons.</p>
<p>Many people here have 529s and they are often a topic of discussion. I learned about the advantages of child-owned 529s vs UTMAs here on CC several years ago.</p>
<p>Do a search on 529 and you’ll find hundreds of threads.</p>
<p>Outside of these forums, most people don’t have 529s or other college savings.</p>
<p>In fact, many people don’t have any savings accounts… period.</p>
<p>“30% of workers in a 2012 study reported that they had less than $1,000 in savings and investments. (Source: Employee Benefit Research Institute)”</p>
<p>“21% of workers covered by 401(k) plans choose not to participate. (Source: Center for Retirement Research)”</p>
<p>“51% of workers over the age of 55 have less than $50,000 saved for retirement.” (Source: Good Financial Cents")</p>
<p>We’ve got people not even saving for their own retirement, let alone their kid’s college.</p>
<p>We’ve got people who simply haven’t thought about saving for anything, and who have poor financial educations and don’t know how to budget their lifelong income well.</p>
<p>A lot of people are paying debts (houses, cars, student loans, credit cards, healthcare bills, taxes), not saving. Others buy too-large houses, nice cars, international vacations, expensive kid sports clubs, too much overpriced coffee too often, plasma TVs, or too expensive colleges to have money leftover to save.</p>
<p>Oh, and this whole “the economy thing sucks” doesn’t help either. Some people don’t even have jobs, or don’t have well-paying jobs.</p>
<p>And, yes, people have choices, aside from-- say, dire unexpected health problems. People had life choices for education, career, family size, location, savings, debt, etc.</p>
<p>jeanne,</p>
<p>Use the Search function on this forum for ‘529’ and you will find lots of threads that discuss college savings plans.</p>