Subject: File No. S7-06-04
From: Samuel R Snodgrass

March 23, 2004

I very much favor the proposed changes. I think that many investors lack training or experience and dont understand anything about expenses, loads, etc. I would like to see a specific caution attached to all 529 plans stating that the expenses, sales fees and commissions may be such as to offset the tax advantage conferred by such investments and giving a hypothetical example of a person in a middle income tax bracket investing the same amount that the investor proposes to invest in a completely no load but taxable fund.