Stock Market Taking Toll On Education Savings

stock market

The falling stock market is taking a toll on state administered education savings plans, but the experts say it's not enough to cause concern.

Parents who have invested in the Michigan Education Savings Program or the Michigan Education Trust may find they haven't earned as much as anticipated. These programs put large sums of money in the stock market.

Still, the Director of the Education Savings Program said that many parents haven't lost anything and the most any plans have gone down is 20 percent. He also said the plans are still good places to save for higher education.