Kasemyer college savings
College savings plans; I have mentioned them before. My aunt very, very generously set up "one-year pre-paid tuition" plans for each kid. That was incredibly generous of her. The issue I have had is that 1) the fund managers make it absolutely as hard as possible to actually get the funds back out and b) since I'm not the one who set them up, I don't know what the fund promised my aunt when she paid. Oh, also, c) they did not show ANYWHERE on the website an accumulated value for the funds. Which is hinky as hell.
My son's was fully paid out in January, so I don't have to worry about that any more. However, I did note that the amount they paid out was only just a little bit more than she actually paid (years ago) in the first place. So - what was the fund doing with that money for those years? That it did not increase? That really is supposed to be the point; you invest it and it increases.
Aaaaanyhow. In the summer I stepped through the process of getting the first payment for my daughter's college. That they refused to pay it out until August when her bill was due to be paid by the end of July cause me some Money-shuffling-issues. Eventually they sent half (I presumed?) of the money. The remaining half to be paid for her spring semester.
Late in the summer I got a series of several emails from the fund. All of them were corporate/finance gibberish, involving terms like audit and transparency and 'changes moving forward.' It sounded VERY MUCH to me like someone had been caught doing something. And was promising crisscross applesauce not to do it again, but not saying what "it" was.
Yesterday I got the check in the mail for the second half of my daughter's savings fund. I promptly had to sit down. It was higher - several thousand dollars higher! - than the first 'half'. So, oopsies! it seemed those funds actually WERE having earnings.
I am elated that there is more funding for her than I thought there was. But, damn. I have questions.
