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Posted: 1/14/2017 3:53:00 PM EDT
Wondering how many people have utilized a PA 529 College Savings Plan for a family member. GSP vs investment plan, noteworthy returns, etc. I would really like to start saving towards something for my children since they're young and feel like this might be a good direction to take.
Link Posted: 1/15/2017 11:33:33 PM EDT
[#1]
I used it when I went back to Pitt to get my MBA, primarily to take advantage of the PA tax deduction (I was still working full-time when I took the classes).  I don't remember the returns since I only had it for 2.5 years, but it is a great investment vehicle if you're starting to save for someone who will have a couple of years of gaining interest before making any withdrawals.

Link to some quick facts regarding the plan - http://www.pa529.com/learn/

ETA: One thing I want to point out that I make sure you're aware of - if you go the route of the Investment Plan, please take time to look at the portfolio expense ratios.  Some of them are quite high (0.40%).  My suggestion would be to start out in the growth-oriented portfolios while your children are still young, and as they approach 14-16 years old, you allocate the funds to the more conservative-based options.
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