529 Dash, Required Reading for Your 529 Education: 
The goal of the 529 Dash is to help institutions and financial professionals who help families and employers in the education financial planning process by creating and sharing industry relevant news, product training, market data and best practices, while also building awareness and understanding of the importance of 529 plans and ABLE accounts.

Please Read, Engage and Share.

Paul Curley, CFA
Associate Director
529 & ABLE Solutions, ISS Market Intelligence
paul.curley@issmarketintelligence.com
Twitter: @PaulCurleyBC

Here is what you need to know from stories, research, and data released this week:

• my529, “my529 talks college savings on The Balancing Act.” Editor’s Take: Congrats to my529 and Richard Ellis for raising awareness and understanding of 529s and the importance of education financial planning by speaking on The Balance. If you missed the interview, watch the interview here.
• Federal Student Aid, “Interest rates and fees for federal student loans.” Editor’s Take: Given the recent announcement by Jerome Powell at the Federal Reserve Board last week, its timely to take a look at the current interest rates for federal student loans. Per the Federal Student Aid page, the fixed interest rate for loans through July 1, 2025 are 9.08% for Direct PLUS Loans for parents and graduate or professional students, 8.08% for Direct Unsubsidized Loans for graduate or professional schools, and 6.53% for Direct Subsidized and Unsubsidized Loans for undergraduate. These interest rates are paid after an initial loan fee of 4.228% for Direct Plus Loans or 1.057% for Direct Subsidized and Unsubsidized Loans. In short, even with the decrease in interest rates by 50 bps, the math works better for parents to save and invest in 529s over the long-term leading up to college as opposed to relying on student loans and paying back afterwards. Therefore, have the education financial planning conversation today.
• YouTube (Senator Eric Schmitt Channel), “Senator Schmitt hosts disability rights advocates in a roundtable on the future of the ABLE Program.” Editor’s Take: On September 19th, U.S. Senator Schmitt of Missouri hosted an ABLE roundtable with several ABLE industry leaders. Watch the video to learn more about the latest trends and outlook for ABLE.
• 529 Insiders, “2Q 2024 529 & ABLE market sizing highlights.” Editor’s Take: Click the link to learn more about 529 and ABLE market sizing as of June 30, 2024.
  • New York has been updated from not allow to allow for 529 to Roth IRA distributions and student loans to align with a recently passed state legislation.
  • ISS Status Boards: K-12, Student Loans & Apprenticeships, and 529 to Roth Distributions

• Registration: Register here 
• Dates: September 30, 2024 – October 2, 2024
• Location: Ritz-Carlton Orlando, Grande Lakes, Florida; Book Hotel Room here
• Welcome Reception: Sunday, September 29, 2024
• 529 Essentials Seminar: Monday, September 30, 2024
• Agenda Updates: 
  • Jonathan Hughes, Associate Director of College Planning and Content Creation, MEFA, Massachusetts Educational Financing Authority, has been confirmed as a panelist on the “Alternative Payments for Contributions, Emerging Trends & Opportunities” 529 Conference panel.

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