College Access 5-2-9 helps combat rising student loan debt

PIERRE, S.D. (WNAX) – With the rising student loan debt, more people should be looking at a 5-2-9 plan to save for college.

South Dakota State Treasurer Josh Haeder says while his office offers “College Access 5-2-9,” there hasn’t been a lot of attention on it.

Haeder says they are looking at an update that would involve an app.

Haeder says there will need to be more education about the plan and how it works.

Money invested in a 5-2-9 plan has tax benefits and can be used to pay for expenses at any college or university in the country.