Kids & Money: Three of the best college savings Web sites

The minus signs are finally disappearing from the college-savings account, and it’s time to turbo-charge your investing to make up the lost ground.

Or, maybe you haven’t started socking anything away for Junior’s college fund, but now’s the opportunity.

Have you evaluated where to park your money? How much can you afford to set aside for future tuition bills and your retirement? What about tax breaks with the various college investment plans?

September — which is National College Savings Month — is the ideal time to be focusing on college affordability. According to a recent study by educational lender Sallie Mae and the Gallup organization, nine out of 10 parents of children under age 18 say their students will likely pursue higher education. That’s good. Now the bad: Four out of 10 have not started saving for that education.

If your son or daughter is motivated to go to college, you too should be motivated to develop a plan on how to hit the tuition number.

Thankfully, online tools can help guide you through the maze of choices. Here are three favorites:

The College Savings Plan Network. This nonprofit organization that represents state 529 college saving plans has a Web site, at , that offers basic information, such as tax benefits of 529s, and comprehensive comparisons of state plans.

For example, the comparison link lets you sort through choices based on fees, investment managers, and investment options. Interested in index funds or plans that offer a mixed portfolio of stocks and bonds? Hit the search button.

The site also links to all the state plans, including Learning Quest in Kansas and MOST in Missouri, making it easy to request information and check performance.

Sallie Mae’s Education Investment Planner. This site, at , includes a feature that projects the annual costs of attending a particular college. Select a school, plug in information about the enrollment date and degree being pursued. You’ll get a detailed breakdown of tuition, room and board, and other fees that provides a target on what it will take to get there.
SavingforCollege.com. In my opinion, this is the definitive guide for sorting through 529 plans. Creator and accountant Joseph Hurley’s Web site provides comprehensive 529 comparisons and college savings calculators. You can check 529 performance ratings — for example, the Kansas Schwab 529 is the top-performer over the last year.

But what sets this site apart is the depth of news and features on college financing, financial aid, and other relevant education topics. Check out “Joe’s Blog,” which addresses various topics such as how married students can find financial aid.

One more thing: Hurley has recently updated the ninth edition of “The Best Way to Save for College: A Complete Guide to 529 Plans” ($14, published by Bankrate Inc.).

With so much information readily available — much of it free — there’s really no excuse for not clicking the mouse or cracking a book to better understand your college savings options.

Send questions and comments to srosen@kcstar.com or call 816-234-4879.