Thursday, October 01, 2009


Among recommendations from the White House Task Force on Middle-Class Working Families (Treasury Department) here are some proposals:

  • 529 plans getting greater availability of age-based index funds that shed equities and add fixed-income assets as beneficiary approaches college
  • eliminating a “home-state bias” for fee and state tax assessments which currently force families to use funds offered in their home state rather than in others
  • put limits on balances on a per-beneficiary bases rather than on state-by-state basis
  • Treasury should collect data from surveys re 529 plan participation and investments
  • Strengthen compliance and monitoring of Section 529 accounts and disbursements
  • Simplify the Free Application for Federal Student Aid (FAFSA) which currently has 153 questions, some having no impact on student aid – over 1MM eligible students fail to fill out this currently complex form
  • Tailoring the form to individual students
  • Allowing students to electronically retrieve their tax info from the IRS and enter it into the online FAFSA
MARILYN FARBER JACOBS is a Licensed Advisor / Independent Insurance Agent – who has College Savings Plans to tell you about, using 529 plans, or term, universal or whole life plans, so that you or someone you know can make an educated choice.

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