Families struggling to make ends meet are pulling money out of their accounts with the state's college saving programs. Struggling families have taken more than $2 million out of the "529 plan" so far this fiscal year. Much of it wasn't used for college expenses. There's a 10 percent penalty for unapproved withdrawals. Officials say the withdrawals are the highest in the eight years the 529 plan has existed.
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Families Take Money from College Savings Plans
Families Take Money from College Savings Plans (Added: February 17, 2009)
Struggling families have taken more than $2 million out of the "529 plan" so far this fiscal year. (more)
Struggling families have taken more than $2 million out of the "529 plan" so far this fiscal year.
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WNCT-On Your Side
Published: February 17, 2009
Published: February 17, 2009
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