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HerMoney Podcast: All About 529 College Savings Plans, with Abby Chao (Episode 138)

Kelly Hultgren  |  December 5, 2018

Earlier this year, America's student debt hit $1.5 trillion — and guess who holds most of it? Yep, us ladies.

We hold nearly two-thirds of all student loan debt in the United States. To bring it closer to home, the average graduate walked off campus with around $39,400 last year, which is up 6% from 2016. It’s trending up, so what can we do for ourselves and our loved ones to lower the cost? One (big) option: 529 college savings plans.

We have Abby Chao, co-founder and COO of CollegeBacker, to talk us through what they are, how they work and how you can easily get your loved ones on board.

In Mailbag, we answer your questions on retirement planning for when you’re out of work, credit cards for new adults and how to go from joint accounts to yours, mine and ours. In Thrive, HerMoney reporter Kathryn shares her coverage on the increase in workplace demotions. We discuss what to do and how to handle them.

This podcast is proudly supported by Fidelity Investments. You work too hard for what you earn to let it sit on the sidelines. Let Fidelity show you how to demand more from your money. Learn more at Fidelity.com/HerMoney. Fidelity Brokerage Services LLC Member NYSE, SIPC.

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