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Recent Industry News
Sallie Mae "How America Saves for College" Survey shows that college savings are up
(April 10, 2014) - Sallie Mae's annual "How America Saves for College" 2014 study, conducted by Ipsos Public Affairs, shows that families' overall college savings are up 7% over 2013.
The study also found that more parents are using a general savings account than any other method, and that families tend to use multiple vehicles to save for college.
Of the half of families who are not yet saving for college, the primary reason non-savers give is that they don't have the money.
The survey is based on 2,020 parents of children under the age of 18.
529 plan assets up 21% in fourth quarter 2013
(March 11, 2014) - In its 4Q13 Savings Plan Data Quarterly Highlights, Strategic Insight reports that total 529 savings plan assets reached $204.5 billion in 4Q13. This is a 21.3% increase over Q4 of 2012, and a 6.9% gain over 3Q13.
Net inflows in the 4th quarter of 2013 were $3.053 billion, compared to $3.138 billion in Q4 of 2012, demonstrating that investors are successfully withdrawing 529 plan funds for qualified higher education expenses.
SEC approves rule change to allow MSRB to college 529 plan data
(February 25, 2014) - The Securities and Exhange Commission has approved MSRB Rule G-45, which will require 529 plan underwriters to submit new information regarding the plan's assets, contributions, withdrawals, and fee and cost structure electronically. Effective February 24, 2015, the rule will require this information to be reported semiannually, with the first submission due by August 30, 2015.