So we've been contributing to Washington State's college savings plan for over 6 years and because of the College Affordability Act's impact on tuition costs, I have an opportunity to make a change without paying a penalty.
Here's the relevant info:
I have 4 kids ages 6, 5, 3, and baby.
The annual fee for the account is 7.5%, amortized like a credit card APR.
$24,000 in the account to date.
But the account is only worth $14,000 right now.
I can pull the money out now and put it somewhere else (vanguard?) with no penalty because I don't have any gains.
I can roll it into another 529.
I can leave it there and when any of my kids actually use it, most likely scenario at various times between 10 and 25 years , maybe it will have been worth it at that point.
Open to all of your thoughts and advice!
