NEW YORK (WVLT) — A New York-based consumer advocacy group gave Tennessee's college savings program high marks in its latest evaluation. State Treasurer David H. Lillard, Jr., proudly announced the TNStars College Savings 529 Program earned 4-1/2, out of a possible 5, "caps" from Savings for College LLC.
“I am very pleased with the rating TNStars received from Saving for College LLC,” said State Treasurer David H. Lillard, Jr. “Our staff has worked hard to create a program that provides attractive investment options at low costs. This rating confirms that TNStars on the right track."
The groups website explains a rating of four or more counts as "an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses, then it also has some particularly good things to recommend it.”
The TNStars College Savings 529 Program lets parents and students withdraw money and spend it tax-free on higher education expenses, such as tuition, housing, books or other education-related equipment.
"All Tennesseans who are parents or grandparents should use TNStars to save for college expenses for their loved ones to ensure them higher earnings in the workforce and a better quality of life,” continued Lillard.