Total Assets in 529 College Savings Plans over Time
Total assets in state-sponsored 529 college savings accounts grew 68% in inflation-adjusted dollars from 2009 to 2014, rising from $147.6 billion (in 2014 dollars) to $247.6 billion. The number of accounts increased by 20%, from 10.1 million in 2009 to 12.1 million in 2014.
Figure 2015_32B: Total Assets in State-Sponsored Section 529 College Savings Plans in 2014 Dollars (in Billions), 1999 to 2014
Notes & Sources
SOURCE: College Savings Plan Network (collegesavings.org).
- In 2014, 1.5 million holders of 529 college savings accounts withdrew an average of $10,900 to help pay college expenses.
- Funds in state-sponsored 529 accounts grow tax free, and distributions to pay qualified college expenses are exempt from federal taxation. Changes in the value of regular 529 savings plans depend on market performance. The value of prepaid plans is fixed relative to the price of in-state public colleges.