May 30, 2008
Advocates of College-Savings Plans Hope to Cash In on Credit Crunch
Advocates of state-sponsored college-savings plans seek to use the current credit crunch as a wake-up call for parents and policy makers to shift away from the growing use of loans by families to cover college costs.
In the long run, savings are the best way for most families to avoid the burdensome costs of private borrowing and the uncertain availability of student loans, said Peter Mazareas, vice chairman of the College Savings Foundation, a nonprofit group that promotes "529
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