Total 529 college savings plan assets were an estimated
$144.4 billion in Q4 2011, according to data from Financial Research
Corporation (FRC), a division of Strategic Insight.
The College Savings Plans Network (CSPN) reported that as
of the close of the most recent fiscal year, Section 529 prepaid tuition plans
are, on average, approximately 93% funded.
California will be closing its adviser-sold unit, a small portion of
the 529 college-savings plan, in which residents invest in the plan
through brokers and financial planners, reports the Los Angeles Times.
First National Bank of Omaha, the Nebraska Educational
Savings Trust, and the State Treasurer
announced the launch of the Bank Savings Investment Option, Nebraska's
FDIC-insured 529 savings option.
Fidelity Investments and the Massachusetts Educational Financing
Authority (MEFA) have
unveiled a new age-based strategy to families saving for college via Fidelity-managed 529
college savings plans.
Although 25% of teens said their parents have a 529 College Savings Plan in place for them, the majority of teens (66%) and adults (54%) has never heard of such a plan.
Fidelity Investments' College Savings
Indicator found 60% of parents who have started saving for their preschool-aged childrens' college costs are still paying back their own student loans.
Financial Research Corporation's (FRC) 529 College Savings Quarterly Data Highlights show 529 savings plan assets have increased to an estimated $149.8 billion as of the second quarter of 2011.
Wells Fargo Funds Management and the Wisconsin College Savings Program Board have announced several changes to EdVest, Wisconsin’s college savings plan.