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Mountain State parents looking for something to celebrate as they consider their children's educational future should be encouraged by news that West Virginia's SMART529 WV Direct college saving plan has been ranked as the top direct-sold plan in the country, according to SavingForCollege.com.
West Virginia State Treasurer Riley Moore's office noted the plan ranked first in both 5- and 10-year performance.
"We're incredibly proud SMART529 remains hands-down the best option in the country for saving for your child's education," Moore said. "These rankings should give families a tremendous amount of confidence in opening or depositing funds into a SMART529 WV Direct Plan.
"We always tell people, 'It's never too early to start saving for your child's future,' and these rankings show when you invest with SMART529, you'll get the best bang for your buck."
Praise was abundant in SavingForCollege's assessment of the state plan, which it said "offers outstanding flexibility, attractive investments, and additional economic benefits (such as generous state tax incentives) that for some people, at least, will provide a substantial boost to their savings. There are few, if any, weaknesses noted in the program."
For a program that got its start back in 2001, those are impressive accolades. Lawmakers who had the foresight to set SMART529 in motion, and those who have since shepherded it to having $2.8 billion in assets under management, are to be commended for their dedication to providing such a tool. West Virginia families are fortunate to have the option as they work toward fully supporting their children's educations.