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Article: 529 Pain Is Traditional Product Gain.
- Article from:
- American Banker
- Article date:
- November 3, 2009
- Author:
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Byline: Katie Kuehner-Hebert
When it comes to exploding college tuition costs, the old-fashioned savings account never looked so good - to bankers or anxious parents.
The financial crisis created a mutual interest: Many families' investments within their 529 college savings plans tanked last year, and banking companies are on the hunt for core deposits.
Now a number of banks report success pitching traditional savings accounts as a more conservative alternative, or a complement, to investment options.
"A lot of 529 users experienced a depreciation in assets within their accounts, so a lot of them are now more risk-averse," said Bridget ...