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Started By
Message
re: So Louisiana's 529 Savings site has been down all week
Posted on 10/2/25 at 4:24 pm to meeple
Posted on 10/2/25 at 4:24 pm to meeple
No idea man I’ve got all mine through (thank god).
But the verbiage of that letter is identical to the language my son got from a hijacked municipal utility on the front end.
But the verbiage of that letter is identical to the language my son got from a hijacked municipal utility on the front end.
0
Posted on 10/2/25 at 4:37 pm to meeple
quote:
Is there a next best alternative to the LA 529?
Going back, I would find a plan with better short-term investment options. Once you get a year or two out from college, you're basically choosing between some variation of stocks and/or their "principal protection fund" which gives about half the annual rate (maybe less) of a money market.
Posted on 10/6/25 at 3:16 pm to Y.A. Tittle
Still down 
Posted on 10/6/25 at 3:21 pm to whiskey over ice
Wondering if our funds were stolen. Also like this makes me not want to use LA Start for 529s anymore for the minuscule tax savings
Posted on 10/6/25 at 3:25 pm to jsk020
quote:
Wondering if our funds were stolen. Also like this makes me not want to use LA Start for 529s anymore for the minuscule tax savings
The news release I saw said they were FDIC insured. I actually wasn't aware of that. Of course, who knows if they are being forthright about ANYTHING at this point.
Posted on 10/6/25 at 3:56 pm to Y.A. Tittle
3rd hand info. But heard that they caught onto the attack quickly and personal information was not compromised.
No clue about the funds in START. Not reassuring that the Board of Regents led that news release by saying that funds are insured. Though it seems like it would have been hard to get at most of the $ considering most people's $ should be tied up in stocks/funds; which would need to be sold first.
eta: Also heard that that the source of the attack ties back to the fake student applying for financial aid scam. Bots using stolen info applying for student aid, signing up for classes, and siphoning $. How scammers are using AI to steal college financial aid. Guessing the scammers found a vulnerability.
No clue about the funds in START. Not reassuring that the Board of Regents led that news release by saying that funds are insured. Though it seems like it would have been hard to get at most of the $ considering most people's $ should be tied up in stocks/funds; which would need to be sold first.
eta: Also heard that that the source of the attack ties back to the fake student applying for financial aid scam. Bots using stolen info applying for student aid, signing up for classes, and siphoning $. How scammers are using AI to steal college financial aid. Guessing the scammers found a vulnerability.
This post was edited on 10/6/25 at 4:01 pm
Posted on 10/6/25 at 3:58 pm to Y.A. Tittle
quote:
The news release I saw said they were FDIC insured.
The fact that they had to even mention this is concerning. May be moving my kid's 529 to Fidelity when this is resolved.
Posted on 10/6/25 at 4:07 pm to DrrTiger
quote:
The fact that they had to even mention this is concerning. May be moving my kid's 529 to Fidelity when this is resolved.
Can you move funds out of something like this without any fees or penalties? Do they not have to be state specific?
I've been generally very happy with this program, but this whole ordeal is definitely concerning regarding the way this all has gone down.
Posted on 10/7/25 at 2:46 pm to Y.A. Tittle
Facebook posting has been edited to simply say they are "insured" NOT "FDIC insured."
It's crazy to realize a government entity holding this much money is only communicating with people with money in their system with no possible access to the money via facebook posts.
It's crazy to realize a government entity holding this much money is only communicating with people with money in their system with no possible access to the money via facebook posts.
This post was edited on 10/7/25 at 2:50 pm
Posted on 10/7/25 at 2:57 pm to Y.A. Tittle
quote:
Can you move funds out of something like this without any fees or penalties? Do they not have to be state specific?
I've been generally very happy with this program, but this whole ordeal is definitely concerning regarding the way this all has gone down.
I'd like to know this as well.
Posted on 10/7/25 at 2:57 pm to Y.A. Tittle
quote:
Facebook posting has been edited to simply say they are "insured" NOT "FDIC insured."
It's crazy to realize a government entity holding this much money is only communicating with people with money in their system with no possible access to the money via facebook posts.
100% agree. Ridiculous.
Posted on 10/7/25 at 3:38 pm to Y.A. Tittle
quote:
Facebook posting has been edited to simply say they are "insured" NOT "FDIC insured."
They had to do this because people were rightfully calling them out in the comments. The funds held within most 529 plans are mutual funds, and the FDIC does not insure mutual fund holdings.
Posted on 10/7/25 at 3:54 pm to Sir Saint
quote:
and the FDIC does not insure mutual fund holdings.
That was what I always understood.
The fact that they just threw that out thinking it might assuage people. Clown world.
Posted on 10/7/25 at 4:22 pm to Y.A. Tittle
I have about $20K for two of my kids tied up in this mess.
Anybody know my options to transfer the money out?
Anybody know my options to transfer the money out?
Posted on 10/7/25 at 4:38 pm to DiamondDog
I think for now we are SOL, they can’t even send a damn email to people who have money in this. Only way to get info is from facebook
Posted on 10/7/25 at 4:43 pm to jsk020
How is this not a bigger news story?
Posted on 10/7/25 at 5:03 pm to Y.A. Tittle
What a shite show. I made a withdrawal request from 4 accounts (1 for each kid) to pay for all of their private school elementary tuition for the entire year… about 30k. I made the withdrawals the day before this mess started, about 2 weeks ago. Haven’t received the money or any responses to any emails. I’m starting to think they were hacked and the money is gone. Louisiana sucks at everything man. Regarding the “insured” and FDIC stuff, I found this website from last year. FYI, Louisiana isn’t on the list….
LINK
LINK
This post was edited on 10/7/25 at 5:09 pm
Posted on 10/7/25 at 5:07 pm to DiamondDog
quote:
I have about $20K for two of my kids tied up in this mess.
I’ve got over a $100k in this thing between 2 kids with one needing theirs starting next year. I hope it’s still all there.
Posted on 10/7/25 at 5:24 pm to Y.A. Tittle
quote:
How is this not a bigger news story?
Amazing that I haven't seen this in the news (paper or TV)
Posted on 10/7/25 at 5:31 pm to TigerintheNO
I bet something like this happened. But Louisiana won’t compensate affected residents like Connecticut did:
“ Of the $1.4 million withdrawn, Nappier said $442,540 was recovered or stopped, and TFI said it will fully restore all affected accounts. Account holders will be provided with two years of identify fraud protection services, identity restoration services and $1 million in identity theft insurance coverage.”
LINK
“ Of the $1.4 million withdrawn, Nappier said $442,540 was recovered or stopped, and TFI said it will fully restore all affected accounts. Account holders will be provided with two years of identify fraud protection services, identity restoration services and $1 million in identity theft insurance coverage.”
LINK
This post was edited on 10/7/25 at 5:41 pm
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