Wisconsin's college savings drops $181 million - WKOW 27: Madison, WI Breaking News, Weather and Sports

Wisconsin's college savings drops $181 million

MADISON, Wis. (AP) -- Wisconsin's state-sponsored college savings program dropped 8.4 percent in value in the third quarter of this year.

  The loss will be felt by parents and others who invested in the funds to help save for college.

  The loss in the state's EdVest and Tomorrow's Scholar plans is on par with an 8.1 percent drop nationally in so-called 529 funds.

  That's how much Financial Research Corporation said the funds lost in the third quarter that ended Sept. 30.

  Wisconsin's funds have lost 11.3 percent since January, or more than $251 million.

  Money invested in the EdVest and Tomorrow's Scholar accounts earn dividends, interest and capital gains on a tax-deferred basis and is tax free if withdrawn to pay for college.

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