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Recent Industry News

4Q 2015 529 plan assets up by 4.1%

(February 3, 2016) - According to 4Q15 data from Strategic Insight, assets in 529 college savings plans increased by 4.1% over last quarter, and increased 2.8% over the past year. This growth in assets outpaced long-term mutual fund and ETF assets, which increased 2.8% over the quarter and dropped by 0.9% since last year.

Total prepaid 529 plan assets decreased by 2.8% over the past year, and the total number of active prepaid accounts dropped to 1,153,507 from 1,359,109.

New law makes computers a qualified higher education expense

(December 18, 2015) - On Friday, December 18, President Obama signed a tax and spending package into law that features important improvements to 529 plans. The Protecting Americans from Tax Acts of 2015 (PATH) includes the following updates: making computers a permanent qualified expense, updating accounting rules to eliminate distribution aggregation requirements and allowing account owners to redeposit funds tax free if they receive a refund from the school.

3Q 2015 529 plan assets down 5.6%

(November 4, 2015) - In its 3Q15 Savings Plan Data Quarterly Highlights, Strategic Insight reports that total 529 savings plan assets reached $221.4 billion in 2Q15. This is a 5.6% decrease over over the second quarter of 2015, and a 2.0% increase over 3Q 2014.

Net outflows in the 1st quarter of 2015 were $0.9 billion, compared to $1.2 billion in Q3 of 2014, demonstrating that investors are successfully withdrawing 529 plan funds for qualified higher education expenses.

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