529 assets dip in Q3

Total assets in 529 college savings plans decreased 1.5% during the third quarter of 2014, according to Strategic Insight, reflecting the seasonal withdrawal pattern associated with the return to fall classes.

Assets at September 30, 2014 were $217.2 billion compared with assets of $220.6 billion at June 30, 2014. Estimated net outflows during the quarter were $1.20 billion.

Assets were 13.5% higher than September 30 a year ago, when they stood at $191.3 billion. Net outflows in last year's third quarter were $0.60 billion.

Strategic Insight found that Virginia's CollegeAmerica 529 plan had the largest share ($46.8 billion) of total 529 assets at September 30, 2014, while New York's College Savings Program-Direct was second with $15.8 billion.

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