529 plans grow in popularity due to the importance of children attending college to increase their professional prospects, all while the total expense of attending college has increased at a rapid rate.

Financial aid is utilized by about two-thirds of full-time students each year through the forms of grants and scholarships, and yet only 75% of families actually fill out the necessary FAFSA (Free Application for Federal Student Aid) forms to garner that money.

As advisors who specialize in college funding we’re often asked by the parent’s on when should they start funding for college or if what they have put away already sets them up well for their kid’s future.

The reality of it is that upper-middle-class areas like ours in Nocatee, FL – and surrounding areas – are put into a hard situation when it comes to getting accepted into colleges of their choice.