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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.
Top 529 College Savings Plans
One-year rankings are based on a plan's average investment returns over the last 12 months.
| State | Plan Name | |
|---|---|---|
| 1 | South Dakota | CollegeAccess 529 (Direct-sold) |
| 2 | Nevada | The Vanguard 529 Savings Plan |
| 3 | California | ScholarShare 529 |
Three-year rankings are based on a plan's average annual investment returns over the last three years.
| State | Plan Name | |
|---|---|---|
| 1 | West Virginia | SMART529 WV Direct College Savings Plan |
| 2 | California | ScholarShare 529 |
| 3 | Alaska | T. Rowe Price College Savings Plan |
Five-year rankings are based on a plan's average annual investment returns over the last five years
| State | Plan Name | |
|---|---|---|
| 1 | Ohio | Ohio CollegeAdvantage Direct 529 Savings Plan |
| 2 | New York | New York's 529 College Savings Program -- Direct Plan |
| 3 | California | ScholarShare 529 |
10-year rankings are based on a plan's average annual investment returns over the last ten years.
| State | Plan Name | |
|---|---|---|
| 1 | Nevada | USAA 529 College Savings Plan |
| 2 | New York | New York's 529 College Savings Program -- Direct Plan |
| 3 | Alaska | T. Rowe Price College Savings Plan |
