How much is invested in 529 college savings plans?
Since their introduction in 1996, contributions to college savings plans have grown rapidly. Surveys of state plans indicate that assets held in 529 college savings plans grew from about $200,000 in 1998 to $90.1 billion at the end of 2006. Assets in Section 529 savings plans grew about 31 percent in 2006, increasing from $68.7 billion at year-end 2005. The number of accounts rose to 7.2 million, and the average 529 savings plan account size was approximately $12,500.
