529 News

Recent Industry News

CSPN Year-End Report shows college savings accounts reaching all time high

(March 13, 2013) - The annual 529 Year-End Report, issued by The College Savings Plans Network, found that college savings investments, number of accounts and average account size reached record levels in 2012. Data collected from all of the 105 529 plans in the country revealed that total investment by families in 529 plans reached $190.7 billion, a 15.7% increase from 2011.

The report also found that contributions to new and existing 529 accounts surpassed $21.2 billion in 2012.

Download "2012 Year-end 529 Report" after clicking the link below.

For more information, click here.

529 industry group reports upsurge in 529 contributions

(March 7, 2013) - Member firms of the College Savings Foundation (CSF) reported $4.1 billion in new (i.e. gross) contributions to their 529 plans in the fourth quarter of 2012, representing a 55% increase over the $2.6 billion in new contributions received in the third quarter of 2012 and a 30% increase from $3.1 billion in the prior year’s (2011) fourth quarter.

CSF members managed $118 billion in overall 529 assets as of December 31, 2012, or approximately 70 percent of the 529 marketplace. Total assets among all 529 savings programs at the end of last year were $168.5 billion as compared to $163.6 billion at September 30, 2012 and $144.4 billion at December 31, 2011, according to Financial Research Corporation, which gathers data for CSF.

CSF members also reported that their “age-based” options account for approximately two-thirds assets invested in their 529 plans, and that half of these assets are invested in portfolios with equities exposure of 61 percent or higher.

Sallie Mae survey shows decrease in number of American families saving for college

(February 28, 2013) - Sallie Mae's How America Saves for College 2013 study found that the percentage of American families with children under age 18 who are saving for college has decreased from 60 percent to 50 percent in the past two years.

Despite the rising costs of college, the survey shows that only one-third of parents have a plan to pay for college, the other two-thirds citing reasons such as the expectation of financial aid and uncertainty about which savings plan to use as barriers.

The study also found that slightly more than one quarter (27 percent) of parents who are saving for college are using a 529 college savings plan. Forty-two percent are saving using general funds or CDs.

The study is based on a survey of more than 1,600 parents of children under age 18.

For more information, click here.

More Industry News

MSRB modifies 529 data-collection proposal (11/26/2012)
Fidelity survey shows most parents unprepared for college costs (08/29/2012)
MSRB seek comments on proposal to collect 529 data (08/06/2012)
Legg Mason survey of wealthy reveals lack of college planning (08/03/2012)
529 plans grow 10% in first quarter 2012 (06/06/2012)
Pershing announces brokerage 529 platform (06/06/2012)
Pershing clients gain omnibus capability (04/12/2012)
FRC reports 2011 growth in 529 plan assets (02/27/2012)
529 assets declined in 2011 third quarter (11/21/2011)
College Board reports rise in 2011-12 college costs (10/26/2011)
529 assets have increased by 27.4% over the past twelve months (08/18/2011)
MSRB planning to collect more 529 info (07/19/2011)
FRC report shows 1Q11 growth of 5.8% in 529 assets (05/20/2011)
529 account balances rose 18% on average in 2010 (04/28/2011)
FRC report shows 4Q10 growth of 8.2% in 529 assets (03/10/2011)
College affordability is #1 concern of Americans (02/04/2011)
Merrill Lynch fined by FINRA for 529 sales practices (01/19/2011)
'529 Guru' Buys Back Savingforcollege.com (12/22/2010)
Hurley Buys Back Savingforcollege.com from Bankrate.com (12/18/2010)
529 assets increase in 2010 Q3 (11/18/2010)
529 assets increase in 2010 Q1 (07/14/2010)
Futuretrust college-savings survey find parents expect kids' help (02/02/2010)
Hartford survey shows more families ready to save for college (12/20/2009)
529 assets increase in 2009 Q3 (11/12/2009)
OFI polls explores women's role in college planning (11/11/2009)
Sallie Mae survey shows parents of younger children saving more (10/01/2009)
Fidelity survey shows families falling further behind in college savings (10/01/2009)
College Savings Foundation finds parents relying more on loans (10/01/2009)
Columbia Management being sold to Ameriprise (09/30/2009)
Survey shows more teens saving for college (09/28/2009)
529 assets increase in 2009 Q2 (08/18/2009)
Futuretrust Hopes & Dreams Survey reflects economic deterioration (06/29/2009)
Survey shows 529 plans underutilized by affluent (06/19/2009)
One-third of college savers are using 529 plans (05/29/2009)
Wee Web and Freshman Fund to merge (05/27/2009)
529 assets continue to slide (05/26/2009)
Nonprofits team up for College Savings Initiative (05/26/2009)
OppenheimerFunds survey finds parents falling behind (05/19/2009)
Futuretrust and Waterfield offer 529 checking account (04/26/2009)
Morningstar selects its 5 best/worst 529s (04/23/2009)
529 assets declined in 2008 fourth quarter (03/05/2009)
"Survey: 529 industry feeling the heat of financial furnace" (02/03/2009)
"529 groups band together to lobby Congress" (02/03/2009)
529 industry groups ask IRS for investment flexibility (11/17/2008)
Hartford survey suggests grandparents as college funding source (11/12/2008)
Fidelity survey shows college savers having tougher time (10/02/2008)
Poll: More than half of parents feel helpless about college expenses (09/14/2008)
College Funding: Grandparents willing, parents not asking (09/13/2008)
TD Ameritrade survey finds fewer American saving for college (09/03/2008)
Sallie Mae and Gallup describe how Americans pay for college (09/02/2008)
"A Gift Registry for College Savings" (08/16/2008)
Futuretrust survey finds Americans despairing of college costs (08/15/2008)
Upromise survey finds families have less money to put towards college (08/14/2008)
Illinois 529 tax challenge is dropped (06/12/2008)
"Thank tax law for college savings plans" (06/09/2008)
"529 college plans to enjoy continued asset growth" (06/09/2008)
Unum offers 529 benefit to all employees with newborns (06/06/2008)
Morningstar names best and worst 529 plans (04/16/2008)
529 assets rise in 2007 despite slowdown in Q4 sales (03/19/2008)
New college-savings survey finds low level of savings (02/22/2008)
"529 industry takes the next big step" (02/20/2008)
Survey finds grandparents want to help pay for college (01/08/2008)
Fidelity unveils new indicator of college financial readiness (12/05/2007)
FRC reports shows 3Q growth of 4.4% in 529 assets (11/28/2007)
Legacy Card and Rainbow Rewards start new 529 rewards program (10/29/2007)
"Age-based funds dominate 529 plans" (10/29/2007)
Hopes & Dreams Survey gauges parents' attitudes toward college (10/05/2007)
Upromise college preparedness survey find parents misinformed (09/21/2007)
CSF survey finds families with too much college debt, too little savings (09/14/2007)
"529 plans achieving critical mass" (08/07/2007)
Survey shows college and retirement running neck and neck (07/19/2007)
John Hancock "wish I knew" survey gauges parents' regret (05/17/2007)
SEC takes action against 1st Global for 529 sales (11/15/2006)
Survey shows parents hope to send children to college of choice (11/05/2006)
College Board reports average tuition increases for 2006-07 (10/25/2006)
Survey shows parents unprepared for college costs (10/18/2006)
Fidelity poll shows increasing interest in 529 plans (10/03/2006)
TIAA-CREF and Mother's Work enter into agreement (08/02/2006)
Survey shows grandparents setting up college funds (06/16/2006)
Sallie Mae to acquire Upromise (06/01/2006)
Survey demonstrates difficulty of managing college debts (05/31/2006)
ICI releases statistics on 529 plan growth (05/08/2006)
529 program assets rise 31% in 2005 (01/31/2006)
Vanguard/Upromise study college savings habits (01/05/2006)
Fidelity survey suggests directing gift dollars to 529 plans instead of toys (11/15/2005)
Newcomer enters the 529 loyalty-rebate business (10/26/2005)
College Board report continuing increase in college costs (10/20/2005)
Survey finds increased 529 usage among boomer households (08/30/2005)
Utah 529 plan agrees to fixes under SEC agreement (08/04/2005)
CSPN adopts revised disclosure principles (07/29/2005)
FDIC expands deposit insurance coverage for 529s (05/23/2005)
Nonprofit to embark on $1 million 529 experiment (11/22/2004)
College Board releases report showing that education pays (10/26/2004)
College Board releases annual college pricing and financial aid reports (10/26/2004)
Fidelity survey shows parents regret not saving enough (10/11/2004)
NASD issues investor alert on 529 plans (09/13/2004)
Fidelity survey shows attitudes toward college savings (08/19/2004)
Survey finds overwhelming public support for extending 529 tax benefits (04/08/2004)
Study finds most families overestimate college costs (11/18/2003)
College Board releases new college pricing numbers (10/24/2003)
ICI survey sees college savings on the rise (10/07/2003)
AIG poll finds only 2% of grandparents use a 529 (08/08/2003)
AllianceBernstein poll finds most unaware of 529 (08/07/2003)