Higher Ed Utah

(Allan Roth, CBS moneywatch.com) — Every year I conduct a search for the best college 529 plans in the nation. Now I don’t do this for purely theoretical reasons, as I’ve been invested in 529 plans for quite a while and my son is only five years from college. Each year, I review the landscape with the possibility of moving my son’s college money from Utah’s UESP plan to another state’s plan, since I’m allowed to move funds once per year.

Here’s what my search turned up, along with some advice on what might be best for you.

The criteria

I use three criteria in selecting a plan, which are:

1. Total costs
2. Appropriate investment options
3. Trust

Elimination Round One – Total Costs

I know that costs take from return, so I first determine how low the total costs of the plan are. This is a combination of administrative costs and the costs of the investment choices. When it comes to options, I want two things – broadly diversified options inside of an age-based portfolio, which will automatically get more conservative as my son approaches the age when he will need the money.