Congress, the Treasury Department, the National Association of Securities Dealers, the Securities and Exchange Commission and the Municipal Securities Rulemaking Board are weighing in, troubled by the fact that broker-sold plans may charge a load and often have annual expenses of more than 2%.

FORBES: An Expensive Education

The Municipal Securities Rulemaking Board, a self-regulatory body that reports to the Securities and Exchange Commission, has proposed rules that would require brokers to ask clients about the importance of state tax benefits, explain a client's direct-sold in-state plan for comparison purposes, and determine what is most suitable for the client--instead of just pushing broker-sold out-of-state plans that might carry higher commissions for them.

FORBES: Magazine Article