Morningstar, the mutual fund reviewer and financial advisory firm, has come out with its ratings of Section 529 college savings plans, with top ratings going to plans in Alaska, Utah, Nevada and Maryland.
Morningstar’s top-rated plans: Alaska’s T. Rowe Price College Savings Plan (managed by T. Rowe Price Associates, Inc.), Maryland’s College Investment Plan (T. Rowe Price), Utah’s Educational Savings Plan, and Nevada’s Vanguard 529 College Savings Plan (Upromise Investments, Inc.), all of which got “Gold” ratings.
Following them with “Silver” were four other plans: Arkansas’ iShares 529 Plan (Upromise Investments, Inc.), Michigan’s Education Savings Program (TIAA Tuition Financing, Inc.) Ohio’s CollegeAdvantage 529 Savings (Ohio Tuition Trust Authority) and Virginia’s CollegeAmerica (American Funds)
Note: Different plans in the same state may have different ratings. For example, Alaska’s John Hancock Freedom 529 (T. Rowe Price) got a “neutral” rating, putting it behind more than two dozen other plans. Oregon’s MFS 529 Savings Plan received a “Bronze,” putting it in with a group of 18 other states that are behind the top-eight-rated,
but the state’s College Savings Plan managed by TIAA Tuition Financing, Inc., received only a “neutral” rating.
Here are all the Morningstar Ratings of 529 Plans.