Report Highlights. American college students and their families pay 48% of college costs out-of-pocket, equivalent to $13,760 per student for the 2023-2024 academic year.
- 35% of families use a college savings fund (such as a tax-deductible 529 plan) to save an average of $6,844 each.
- While over 16 million American families save for college using 529s, 54% of parents are unaware of the 529 program(s).
- In 2023, families had $508.0 billion saved for college in 529 plans, making the average 529 account balance $30,295.
- The average 529 account balance grew by $212.83 per month in 2024.
- Parents’ income and savings pay for the largest share of college tuition (48%); the average student pays for 10% of their tuition out-of-pocket.
Related research includes How People Pay for College | Average Cost of College | Best Online SAT Prep Courses | Average Time to Repay Student Loans | Economic Effects of Student Loan Debt | Student Loan Refinancing
529 Plan Statistics
Section 529 of the IRS tax code establishes and defines Qualified Tuition Programs (QTPs) as tax-deductible savings or prepaid tuition accounts. See 529 Plans by State for program data.
- There were 16.8 million active 529 accounts in June of 2024.
- Nationwide, 529 Plan savings totaled $508 billion in June 2024 for an average account balance of $30,295.
- The average account balance in mid-2024 was 1.16% lower than the all-time high average balance of $30,652 in 2021.
- From 2009 to 2024, the average account balance increased 129.7% (from $13,188) for a compound annual growth rate (CAGR) of 5.70%.
- 38% of parents were aware of 529 plans in 2019.
- Alternatives to 529 plans include Coverdell Education Savings Accounts (ESAs), which are not tax-deductible (further restrictions apply).
College Savings Plan Statistics
Half of families with college students save money specifically for college; the average total savings goal is $55,342.
- 53% of college-bound families have a strategy to pay for college; among them, 94.3% plan to pay at least a share of tuition out-of-pocket.
- 30% of college-bound families plan how much of their income and savings parents will contribute.
- 20% of college-bound families plan how much the student will contribute.
- 21% of families have their students work and save income to attend college.
- 15% of families use a financial advisor to develop a college spending budget.
Saving vs. Borrowing for College
As students limit borrowing for college, parents have picked up most of the slack.
- Among families who borrow to pay for college, the average student pays 10% of their tuition while their family pays for 22% of tuition costs.
- Compared to families who borrow, families who do not borrow pay a 100% larger share of tuition from income and savings.
- Parents in families who do not borrow pay a 110% higher share of tuition than those who do borrow.
- Students from families who do not borrow pay a 10.0% lower share than those who do borrow.
- Among students and families who don’t borrow to pay for college, students cover 9% of costs with their own income and savings; their parents pay for 56% of costs.
College Savings Statistics by Institution Type
The type of school a student plans to attend may influence their saving strategy.
- At 4-year public universities, 41.4% of tuition comes from the income and savings of parents.
- 53% of students at public, state-funded colleges use their savings to pay at least some of their tuition;
- 70% have parents contribute at least some savings to tuition.
- Students and families pay 32.6% of private university costs out-of-pocket.
- At Historically Black Colleges and Universities (HBCU), students and parents pay 29% of costs out-of-pocket.
- Compared to all 4-year public college attendees, HBCU students are 17.0% more likely to pay for school using their own income and savings.
- Parents of HBCU students are 27.1% less likely to pay for college with savings compared to parents of all students attending 4-year public colleges.
Other College Funding Statistics
Very few college students and their families pay all of their college expenses out-of-pocket.
- Scholarships and grants cover 26.4% of costs while students and parents borrow to pay 20.2%.
- In 2018, 22% of families planned to pay for college using life insurance.
- 14% of families planned to pay for college by finishing off their mortgage and freeing their income towards college expenses.
- 7% of families plan for their child to be employed with the college they attend.
529 Plans by State
Most 529 plans are state-run, and each state has its own iteration of a QTP or 529 Plan (specialized savings and/or prepaid tuition). See our reports on 529 Tax Deductions and 529 Contribution Limits by state.
Jump to a state: AL | AK | AZ | AR | CA | CO | CT | DE | FL | GA | HI | ID | IL | IN | IA | KS | KY | LA | ME | MD | MA | MI | MN | MS | MO | MT | NE | NV | NH | NJ | NM | NY | NC | ND | OH | OK | OR | PA | RI | SC | SD | TN | TX | UT | VT | VA | WA | WV | WI | WY
| State | Total 529 Accounts | Total Assets |
|---|---|---|
| Alabama | 125,703 | $2,883,449,066 |
| Alaska | 320,503 | $10,530,747,489 |
| Arkansas | 52,925 | $1,387,188,824 |
| Arizona | 111,104 | $2,323,279,089 |
| California | 439,039 | $15,580,888,342 |
| Colorado | 411,517 | $12,246,255,350 |
| Connecticut | 206,379 | $5,984,674,018 |
| DC | 41,120 | $1,353,145,290 |
| Delaware | 25,146 | $685,085,953 |
| Florida | 665,849 | $13,838,746,411 |
| Georgia | 244,179 | $5,711,643,773 |
| Hawaii | 5,901 | $111,611,499 |
| Idaho | 50,646 | $843,007,088 |
| Illinois | 652,723 | $20,409,797,836 |
| Indiana | 441,074 | $7,591,496,647 |
| Iowa | 307,856 | $6,827,722,497 |
| Kansas | 353,531 | $11,584,878,698 |
| Kentucky’s | 19,896 | $278,974,403 |
| Louisiana | 82,899 | $1,583,270,083 |
| Maine | 476,893 | $14,477,561,503 |
| Maryland | 389,274 | $10,932,408,063 |
| Massachusetts | 286,752 | $9,748,889,176 |
| Michigan | 405,514 | $10,556,726,853 |
| Minnesota | 98,891 | $2,021,929,400 |
| Mississippi | 34,224 | $602,682,507 |
| Missouri | 194,544 | $4,315,222,525 |
| Montana | 13,646 | $231,831,184 |
| Nebraska | 299,392 | $7,025,366,897 |
| Nevada | 1,042,374 | $44,478,716,903 |
| New Hampshire | 1,010,603 | $26,741,422,870 |
| New Jersey | 263,352 | $6,756,190,126 |
| New Mexico | 104,101 | $2,346,362,052 |
| New York | 1,320,551 | $51,065,505,875 |
| North Carolina | 187,155 | $4,537,891,522 |
| North Dakota | 55,610 | $635,176,150 |
| Ohio | 676,344 | $17,713,299,892 |
| Oklahoma | 83,641 | $1,638,163,502 |
| Oregon | 225,252 | $5,121,179,949 |
| Pennsylvania | 286,062 | $7,798,652,612 |
| Rhode Island | 157,027 | $4,078,338,231 |
| South Carolina | 234,121 | $6,596,309,806 |
| South Dakota | 20,786 | $847,964,059 |
| Tennessee | 27,091 | $365,987,653 |
| Texas | 99,481 | $2,579,125,755 |
| Utah | 515,414 | $23,960,837,406 |
| Vermont | 29,305 | $673,512,564 |
| Virginia | 3,132,892 | $105,011,515,517 |
| Washington | 90,816 | $2,449,358,555 |
| West Virginia | 109,926 | $3,051,315,440 |
| Wisconsin | 345,182 | $7,792,107,063 |
Alabama 529 Plan Statistics
Families with Alaska 529 plans had 320,503 active accounts as of July 2024.
- Families with Alaska 529 plans saved an average of $291.58 per month, per account in the first half of 2024.
- The average Alaska 529 account had $32,857 saved as of July 2024, up 5.62% from 2023.
- College-bound students and their families had $10.531 billion saved in Alaska 529s as of July 2024.
- The most popular savings plan is Alaska’s John Hancock Freedom 529, with $5.977 billion saved in 170,128 accounts.
- Families who use Alaska’s T. Rowe Price College Savings Plan save the largest amount per account ($35,577).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Alabama Prepaid Affordable College Tuition (PACT) | 5,576 | $37,248 |
| Alabama CollegeCounts 529 Fund ‐ Direct | 53,378 | $21,979 |
| Alabama CollegeCounts 529 Fund ‐ Advisor | 66,749 | $22,511 |
Alaska 529 Plan Statistics
Families with Alaska 529 plans had 320,503 active accounts as of July 2024.
- Families with Alaska 529 plans saved an average of $291.58 per month, per account in the first half of 2024.
- The average Alaska 529 account had $32,857 saved as of July 2024, up 5.62% from 2023.
- College-bound students and their families had $10.531 billion saved in Alaska 529s as of July 2024.
- The most popular savings plan is Alaska’s John Hancock Freedom 529, with $5.977 billion saved in 170,128 accounts.
- Families who use Alaska’s T. Rowe Price College Savings Plan save the largest amount per account ($35,577).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| John Hancock Freedom 529 | 171,338 | $33,173 |
| Alaska 529 | 43,916 | $16,819 |
| T. Rowe Price College Savings Plan | 105,667 | $33,696 |
Arkansas 529 Plan Statistics
Families with Arkansas 529 plans had 52,925 active accounts as of July 2024.
- Families with Arkansas 529 plans saved an average of $197.53 per month, per account in the first half of 2024.
- The average Arkansas 529 account had $26,210 saved at the end of 2023, up 4.74% from 2023.
- College-bound students and their families had $1.387 billion saved in Arkansas 529s as of July 2024.
- The most popular savings plan is the Arkansas Brighter Future 529 Direct, with $632 million saved in 35,590 accounts.
- Families who use the Arkansas Brighter Future 529 Advisor plan save the largest amount per account ($43,538).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Arkansas Brighter Future 529 Advisor | 17,335 | $43,538 |
| Arkansas Brighter Future 529 Direct | 35,590 | $17,770 |
Arizona 529 Plan Statistics
Families with Arizona 529 plans had 111,104 active accounts as of July 2024.
- Families with Arizona 529 plans saved an average of $180.81 per month, per account in the first half of 2024.
- The average Arizona 529 account had $20,911 saved as of July 2024, up 5.47% from 2023.
- College-bound students and their families had $2.323 billion saved in Arizona 529s as of July 2024.
- The most popular savings plan is The Fidelity Arizona College Savings Plan, with $1.610 billion saved in 79,494 accounts.
- Families who use the Arizona Goldman Sachs 529 Plan save the largest amount per account ($22,808).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Arizona Family College Savings Program | 540 | $7,666 |
| Arizona Goldman Sachs 529 Plan | 31,070 | $22,808 |
| The Fidelity Arizona College Savings Plan | 79,494 | $20,259 |
California 529 Plan Statistics
Families with California 529 plans had 439,039 active accounts as of July 2024.
- Families with California 529 plans saved an average of $225.82 per month, per account in the first half of 2024.
- The average California 529 account had $35,489 saved as of July 2024, up 3.97% from 2023.
- College-bound students and their families had $15.580 billion saved in California 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| ScholarShare College Savings Plan | 439,039 |
$35,489 |
Colorado 529 Plan Statistics
Families with Colorado 529 plans had 411,517 active accounts as of July 2024.
- Families with Colorado 529 plans saved an average of $253.18 per month, per account in the first half of 2024.
- The average Colorado 529 account had $29,759 saved as of July 2024, up 5.38% from 2023.
- College-bound students and their families had $12.246 billion saved in Colorado 529s as of July 2024.
- The most popular savings plan is the CollegeInvest Direct Portfolio College Savings Plan, with $6.828 billion saved in 211,523 accounts.
- Families who use the CollegeInvest Direct plan save the largest amount per account ($32,279).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| CollegeInvest Direct Portfolio College Savings Plan | 211,523 | $32,279 |
| Smart Choice College Savings Plan | 15,943 | $5,930 |
| Stable Value Plus College Savings Plan | 14,635 | $8,562 |
| Scholars Choice® College Savings Program | 169,416 | $30,686 |
Connecticut 529 Plan Statistics
Families with Connecticut 529 plans had 206,379 active accounts as of July 2024.
- Families with Connecticut 529 plans saved an average of $293.96 per month, per account in the first half of 2024.
- The average Connecticut 529 account had $28,998 saved as of July 2024, up 6.48% from 2023.
- College-bound students and their families had $5.985 billion saved in Connecticut 529s as of July 2024.
- The most popular savings plan is the Connecticut Higher Education Trust (CHET), with $4.986 billion saved in 172,125 accounts.
- Families who use the CHET plan save the largest amount per account ($29,145).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Connecticut Higher Education Trust | 172,125 | $28,969 |
| Connecticut Higher Education Trust Advisor | 34,254 | $29,145 |
Delaware 529 Plan Statistics
Families with Delaware 529 plans had 25,146 active accounts as of July 2024.
- Families with Delaware 529 plans saved an average of $109.38 per month, per account in the first half of 2024.
- The average Delaware 529 account had $27,244 saved as of July 2024, up 2.47% from 2023.
- College-bound students and their families had $655 million saved in Delaware 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| The Delaware College Investment Plan | 25,146 | $27,244 |
District of Columbia 529 Plan Statistics
Families with DC 529 plans had 41,120 active accounts as of July 2024.
- Families with DC 529 plans saved an average of $400.61 per month, per account in the first half of 2024.
- The average DC 529 account had $32,907 saved as of July 2024, up 7.88% from 2023.
- College-bound students and their families had $1.353 billion saved in DC 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| DC College Savings Plan | 41,120 | $32,907 |
Florida 529 Plan Statistics
Families with Florida 529 plans had 665,849 active accounts as of July 2024.
- Families with Florida 529 plans withdrew an average of $345.43 per month, per account in the first half of 2024.
- The average Florida 529 account had $20,784 saved as of July 2024, down 9.07% from 2023.
- College-bound students and their families had $13.838 billion saved in Florida 529s as of July 2024.
- The most popular savings plan is the Florida Stanley G. Tate Florida Prepaid College Program, with $12.413 billion saved in 535,791 accounts.
- Families who use the Stanley G. Tate plan save the largest amount per account ($23,168).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Stanley G. Tate Florida Prepaid College Program | 535,791 | $23,168 |
| Florida 529 Savings Plan | 130,058 | $10,962 |
Georgia 529 Plan Statistics
Families with Georgia 529 plans had 244,179 active accounts as of July 2024.
- Families with Georgia 529 plans saved an average of $214.55 per month, per account in the first half of 2024.
- The average Georgia 529 account had $23,391 saved as of July 2024, up 5.82% from 2023.
- College-bound students and their families had $5.712 billion saved in Georgia 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Georgia Path2College 529 Plan | 244,179 | $23,391 |
Hawaii 529 Plan Statistics
Families with Hawaii 529 plans had 5,901 active accounts as of July 2024.
- Families with Hawaii 529 plans saved an average of $103.62 per month, per account in the first half of 2024.
- The average Hawaii 529 account had $18,914 saved as of July 2024, up 3.40% from 2023.
- College-bound students and their families had $112 million saved in Hawaii 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| HI529 ‐ Hawaii’s College Savings Program | 5,901 | $18,914 |
Idaho 529 Plan Statistics
Families with Idaho 529 plans had 50,646 active accounts as of July 2024.
- Families with Idaho 529 plans saved an average of $125.18 per month per account in the first half of 2024.
- The average Idaho 529 account had $16,645 saved as of July 2024, up 4.73% from 2023.
- College-bound students and their families had $844 million saved in Idaho 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| IDeal Idaho College Savings Program | 50,646 | $16,645 |
Illinois 529 Plan Statistics
Families with Illinois 529 plans had 652,723 active accounts as of July 2024.
- Families with Illinois 529 plans saved an average of $312.09 per month, per account in the first half of 2024.
- The average Illinois 529 account had $31,269 saved as of July 2024, up 6.37% from 2023.
- College-bound students and their families had $20.410 billion saved in Illinois 529s as of July 2024.
- The most popular savings plan is Illinois Bright Start, with $12.139 billion saved in 359,976 accounts.
- Families who use the Illinois Bright Start Program save the largest amount per account ($33,721).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| College Illinois! Prepaid Tuition Program | 15,702 | $31,302 |
| Illinois Bright Directions | 277,045 | $28,080 |
| Illinois Bright Start | 359,976 | $33,721 |
Indiana 529 Plan Statistics
Families with Indiana 529 plans had 441,074 active accounts as of July 2024.
- Families with Indiana 529 plans saved an average of $174.22 per month, per account in the first half of 2024.
- The average Indiana 529 account had $17,211 saved as of July 2024, up 6.47% from 2023.
- College-bound students and their families had $7.591 billion saved in Indiana 529s as of July 2024.
- The most popular savings plan is the Indiana CollegeChoice 529 Direct Savings Plan, with $4.598 billion saved in 262,528 accounts.
- Families who use the Indiana CollegeChoice 529 Direct Savings Plan save the largest amount per account ($17,513).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Indiana CollegeChoice Advisor 529 Savings Plan | 176,801 | $16,818 |
| Indiana CollegeChoice 529 Direct Savings Plan | 262,528 | $17,513 |
| Indiana CollegeChoice CD | 1,745 | $11,679 |
Iowa 529 Plan Statistics
Families with Iowa 529 plans had 307,856 active accounts as of July 2024.
- Families with Iowa 529 plans saved an average of $184.70 per month, per account in the first half of 2024.
- The average Iowa 529 account had $22,178 saved as of July 2024, up 5.26% from 2023.
- College-bound students and their families had $6.828 billion saved in Iowa 529s as of July 2024.
- The most popular savings plan is College Savings Iowa, with $6.139 billion saved in 270,043 accounts.
- Families who use the College Savings Iowa plan save the largest amount per account ($22,733).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| College Savings Iowa | 270,043 | $22,733 |
| Iowa Advisor 529 Plan | 37,813 | $18,215 |
Kansas 529 Plan Statistics
Families with Kansas 529 plans had 353,531 active accounts as of July 2024.
- Families with Kansas 529 plans saved an average of $206.26 per month, per account in the first half of 2024.
- The average Kansas 529 account had $32,769 saved as of July 2024, up 3.92% from 2023.
- College-bound students and their families had $11.585 billion saved in Kansas 529s as of July 2024.
- The most popular savings plan is the ACI – Schwab 529 College Savings Plan, with $9.213 billion saved in 254,739 accounts.
- Families who use the Schwab Learning Quest 529 Plan save the largest amount per account ($48,554).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| ACI ‐ Schwab 529 College Savings Plan | 254,739 | $36,167 |
| Schwab Learning Quest 529 Plan | 5,621 | $48,554 |
| Learning Quest Education Savings Program | 79,119 | $22,871 |
| Learning Quest Advisor | 14,052 | $20,592 |
Kentucky 529 Plan Statistics
Families with Kentucky 529 plans had 19,896 active accounts as of July 2024.
- Families with Kentucky 529 plans saved an average of $80.81 per month, per account in the first half of 2024.
- The average Kentucky 529 account had $14,022 saved as of July 2024, up 3.58% from 2023.
- College-bound students and their families had $279 million saved in Kentucky 529s as of July 2024.
- The most popular savings plan is the KY Saves 529, with $279 million saved in 18,270 accounts.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Kentucky’s Affordable Prepaid Tuition | 1,626 | $221* |
| KY Saves 529 | 18,270 | $15,250 |
*Data from 3/31/2024
Louisiana 529 Plan Statistics
Families with Louisiana 529 plans had 82,899 active accounts as of July 2024.
- Families with Louisiana 529 plans saved an average of $154.38 per month, per account in the first half of 2024.
- The average Louisiana 529 account had $19,099 saved as of July 2024, up 5.10% from 2023.
- College-bound students and their families had $1.583 billion saved in Louisiana 529s as of July 2024.
- The most popular savings plan is the START Savings Program, with $1.552 billion saved in 79,015 accounts.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| START Savings Program | 79,015 | $19,637 |
| START K-12 Savings Program | 3,884 | $8,150 |
Maine 529 Plan Statistics
Families with Maine 529 plans had 476,893 active accounts as of July 2024.
- Families with Maine 529 plans saved an average of $264.02 per month, per account in the first half of 2024.
- The average Maine 529 account had $30,358 saved as of July 2024, up 5.51% from 2023.
- College-bound students and their families had $14.448 billion saved in Maine 529s as of July 2024.
- The most popular savings plan is the Direct NextGen College Investing Plan, with $3.586 billion saved in 240,723 accounts.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| NextGen College Investing Plan ‐ Select | 236,170 | $46,118 |
| NextGen College Investing Plan ‐ Direct | 240,723 | $14,896 |
Maryland 529 Plan Statistics
Families with Maryland 529 plans had 389,274 active accounts as of July 2024.
- Families with Maryland 529 plans saved an average of $235.29 per month, per account in the first half of 2024.
- The average Maryland 529 account had $28,084 saved as of July 2024, up 5.29% from 2023.
- College-bound students and their families had $10.932 billion saved in Maryland 529s as of July 2024.
- The most popular savings plan is the Maryland College Investment Plan, with $9.868 billion saved in 364,134 accounts.
- Families who use the Maryland Prepaid College Trust plan save the largest amount per account ($42,342).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Maryland College Investment Plan | 364,134 | $27,100 |
| Maryland Prepaid College Trust | 25,140 | $42,342 |
Massachusetts 529 Plan Statistics
Families with Massachusetts 529 plans had 286,752 active accounts as of July 2024.
- Families with Massachusetts 529 plans saved an average of $262.46 per month, per account in the first half of 2024.
- The average Massachusetts 529 account had $33,998 saved as of July 2024, up 4.86% from 2023.
- College-bound students and their families had $9.749 billion saved in Massachusetts 529s as of July 2024.
- The most popular savings plan is The U.Fund College Investing Plan, with $9.660 billion saved in 280,951 accounts.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Massachusetts The U.Fund College Investing Plan | 280,951 | $34,386 |
| Massachusetts U.Plan | 5,801 | $15,182 |
Michigan 529 Plan Statistics
Families with Michigan 529 plans had 405,514 active accounts as of July 2024.
- Families with Michigan 529 plans saved an average of $207.72 per month, per account in the first half of 2024.
- The average Michigan 529 account had $26,033 saved as of July 2024, up 5.03% from 2023.
- College-bound students and their families had $10.557 billion saved in Michigan 529s as of July 2024.
- The most popular savings plan is the Michigan Education Savings Program, with $8.218 billion saved in 316,658 accounts.
- Families who use the Michigan Education Trust (MET) plan save the largest amount per account ($35,933).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Michigan Education Savings Program | 316,658 | $25,952 |
| Michigan 529 Advisor Plan | 57,295 | $21,027 |
| Michigan Education Trust (MET) | 31,561 | $35,933 |
Minnesota 529 Plan Statistics
Families with Minnesota 529 plans had 98,891 active accounts as of July 2024.
- Families with Minnesota 529 plans saved an average of $98.66 per month, per account in the first half of 2024.
- The average Minnesota 529 account had $20,446 saved as of July 2024, up 2.98% from 2023.
- College-bound students and their families had $2.022 billion saved in Minnesota 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Minnesota College Savings Plan | 98,891 | $20,446 |
Mississippi 529 Plan Statistics
Families with Mississippi 529 plans had 29,292 active 529 accounts as of July 2024.
- Families with Mississippi 529 plans saved an average of $45.64 per month, per account in the first half of 2024.
- The average Mississippi 529 account had $20,575 saved as of July 2024, up 1.35% from 2023.
- College-bound students and their families had $603 million saved in Mississippi 529s as of July 2024.
- The most popular savings plan is Mississippi Affordable College Savings, with $314 million saved in 17,112 accounts.
- Families who use the Mississippi Prepaid Affordable College Tuition Program save the largest amount per account ($23,695).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Mississippi Affordable College Savings | 17,112 | $18,354 |
| Mississippi Prepaid Affordable College Tuition Program | 12,180 | $23,695 |
Missouri 529 Plan Statistics
Families with Missouri 529 plans had 194,544 active 529 accounts as of July 2024.
- Families with Missouri 529 plans saved an average of $182.89 per month, per account in the first half of 2024.
- The average Missouri 529 account had $22,181 saved as of July 2024, up 5.20% from 2023.
- College-bound students and their families had $4.315 billion saved in Missouri 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Missouri Saving for Tuition (MOST) | 194,544 | $22,181 |
Montana 529 Plan Statistics
Families with Montana 529 plans had 13,646 active accounts as of July 2024.
- Families with Montana 529 plans saved an average of $125.20 per month, per account in the first half of 2024.
- The average Montana 529 account had $16,989 saved as of July 2024, up 4.63% from 2023.
- College-bound students and their families had $232 million saved in Montana 529s as of July 2024.
- The most popular savings plan is Achieve Montana, with $211 million saved in 11,901 accounts.
- Families who use the Achieve plan save the largest amount per account ($17,767).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Montana Family Education Savings Program ‐ Bank Plan | 1,745 | $11,679 |
| Achieve Montana | 11,901 | $17,767 |
Nebraska 529 Plan Statistics
Families with Nebraska 529 plans had 299,392 active accounts as of July 2024.
- Families with Nebraska 529 plans saved an average of $196.49 per month, per account in the first half of 2024.
- The average Nebraska 529 account had $23,465 saved as of July 2024, up 5.29% from 2023.
- College-bound students and their families had $7.025 billion saved in Nebraska 529s as of July 2024.
- The most popular savings plan is the Nebraska Educational Savings Plan Trust – Direct, with $2.674 billion saved in 94,682 accounts.
- Families who use the Bloomwell 529 Education Savings Plan save the largest amount per account ($30,509).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Nebraska Educational Savings Plan Trust ‐ Direct | 94,682 | $28,238 |
| Nebraska Educational Savings Plan Trust ‐ Advisor | 79,032 | $18,313 |
| Bloomwell 529 Education Savings Plan | 71,804 | $30,509 |
| State Farm 529 Plan | 53,874 | $13,249 |
Nevada 529 Plan Statistics
Families with Nevada 529 plans had 1.042 million active accounts as of July 2024.
- Families with Nevada 529 plans saved an average of $487.65 per month, per account in the first half of 2024.
- The average Nevada 529 account had $42,671 saved as of July 2024, up 7.36% from 2023.
- College-bound students and their families had $44.479 billion saved in Nevada 529s as of July 2024.
- The most popular savings plan is the Nevada Vanguard 529 Plan, with $35.744 billion saved in 597,425 accounts.
- Families who use the Vanguard 529 save the largest amount per account ($59,830).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Putnam 529 for America | 15,859 | $29,723 |
| USAA College Savings Plan | 296,261 | $19,535 |
| SSgA Upromise 529 Plan | 99,235 | $13,711 |
| The Vanguard 529 Plan | 597,425 | $59,830 |
| Wealthfront’s College Savings Program | 23,041 | $29,273 |
| Nevada Prepaid Tuition Program | 10,553 | $41,789 |
New Hampshire 529 Plan Statistics
Families with New Hampshire 529 plans had 1.011 million active accounts as of July 2024.
- Families with New Hampshire 529 plans saved an average of $169.00 per month, per account in the first half of 2024.
- The average New Hampshire 529 account had $26,461 saved as of July 2024, up 3.98% from 2023.
- College-bound students and their families had $26.741 billion saved in New Hampshire 529s as of July 2024.
- The most popular savings plan is the New Hampshire UNIQUE College Investing Plan, with $21.485 billion saved in 852,319 accounts.
- Families who use the New Hampshire Fidelity Advisor 529 Plan save the largest amount per account ($33,206).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Fidelity Advisor 529 Plan | 158,284 | $33,206 |
| UNIQUE College Investing Plan | 852,319 | $25,208 |
New Jersey 529 Plan Statistics
Families with New Jersey 529 plans had 263,352 active accounts as of July 2024.
- Families with New Jersey 529 plans saved an average of $258.53 per month, per account in the first half of 2024.
- The average New Jersey 529 account had $25,655 saved as of July 2024, up 6.44% from 2023.
- College-bound students and their families had $6.756 billion saved in New Jersey 529s as of July 2024.
- The most popular savings plan is the New Jersey Franklin Templeton 529, with $4.896 billion saved in 192,266 accounts.
- Families who use the New NJ BEST 529 College Savings Plans save the largest amount per account ($26,169).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Franklin Templeton 529 | 192,266 | $25,465 |
| NJ BEST 529 College Savings Plans | 71,086 | $26,169 |
New Mexico 529 Plan Statistics
Families with New Mexico 529 plans had 104,101 active accounts as of July 2024.
- Families with New Mexico 529 plans saved an average of $138.36 per month, per account in the first half of 2024.
- The average New Mexico 529 account had $22,539 saved as of July 2024, up 3.82% from 2023.
- College-bound students and their families had $2.346 billion saved in New Mexico 529s as of July 2024.
- The most popular savings plan is the New Mexico Scholar’s Edge plan, with $1.651 billion saved in 74,135 accounts.
- Families who use the New Mexico The Education Plan save the largest amount per account ($23,214).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| New Mexico Scholar’s Edge | 74,135 | $22,267 |
| New Mexico The Education Plan | 29,966 | $23,214 |
New York 529 Plan Statistics
Families with New York 529 plans had 1.321 million active accounts as of July 2024.
- Families with New York families with 529 plans saved an average of $434.44 per month, per account in the first half of 2024.
- The average New York 529 account had $38,670 saved as of July 2024, up 7.23% from 2023.
- College-bound students and their families had $51.066 billion saved in New York 529s as of July 2024.
- The most popular savings plan is New York’s 529 College Savings Program Direct Plan, with $38,974 billion saved in 1.078 million accounts.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| New York’s 529 College Savings Program Direct Plan | 1,078,483 | $38,974 |
| New York’s 529 Advisor Guided College Savings Program | 242,068 | $37,317 |
North Carolina 529 Plan Statistics
Families with North Carolina 529 plans had 187,155 active accounts as of July 2024.
- Families with North Carolina 529 plans saved an average of $262.16 per month, per account in the first half of 2024.
- The average North Carolina 529 account had $24,247 saved as of July 2024, up 6.94% from 2023.
- College-bound students and their families had $4.538 billion saved in North Carolina 529s as of July 2024.
- The most popular savings plan is North Carolina’s National College Savings Program, with $3.647 billion saved in 168,243 accounts.
- Families who use the North Carolina / Morgan Stanley National Advisory 529 Plan save the largest amount per account ($47,117).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| North Carolina’s National College Savings Program | 168,243 | $21,676 |
| North Carolina / Morgan Stanley National Advisory 529 Plan | 18,912 | $47,117 |
North Dakota 529 Plan Statistics
Families with North Dakota 529 plans had 55,610 active accounts as of July 2024.
- Families with North Dakota 529 plans saved an average of $51.53 per month, per account in the first half of 2024.
- The average North Dakota 529 account had $11,422 saved as of July 2024, up 2.78% from 2023.
- College-bound students and their families had $635 million saved in North Dakota 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| North Dakota: College SAVE | 55,610 | $11,422 |
Ohio 529 Plan Statistics
Families with Ohio 529 plans had 676,344 active accounts as of July 2024.
- Families with Ohio 529 plans saved an average of $298.77 per month, per account in the first half of 2024.
- The average Ohio 529 account had $26,190 saved as of July 2024, up 7.35% from 2023.
- College-bound students and their families had $17.713 billion saved in Ohio 529s as of July 2024.
- The most popular savings plan is the Ohio CollegeAdvantage Direct Plan, with $10.838 billion saved in 401,965 accounts.
- Families who use CollegeAdvantage Direct save the largest amount per account ($26,963).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Ohio CollegeAdvantage Guaranteed 529 Savings Plan | 5,346 | $25,315 |
| Ohio CollegeAdvantage Direct Plan | 401,965 | $26,963 |
| Ohio CollegeAdvantage Advisor 529 Savings Plan | 269,033 | $25,052 |
Oklahoma 529 Plan Statistics
Families with Oklahoma 529 plans had 83,641 active accounts as of July 2024.
- Families with Oklahoma 529 plans saved an average of $170.88 per month, per account in the first half of 2024.
- The average Oklahoma 529 account had $19,586 saved as of July 2024, up 5.52% from 2023.
- College-bound students and their families had $1.638 billion saved in Oklahoma 529s as of July 2024.
- The most popular savings plan is the Oklahoma College Savings Plan, with $1.363 billion saved in 70,180 accounts.
- Families who use the OklahomaDream 529 Plan save the largest amount per account ($20,427).
| 529 Program | Number of Open Accounts | Savings per Account as of 12/31/2023 |
|---|---|---|
| Oklahoma College Savings Plan | 70,180 | $19,424 |
| OklahomaDream 529 Plan | 13,461 | $20,427 |
Oregon 529 Plan Statistics
Families with Oregon 529 plans had 225,252 active accounts as of July 2024.
- Families with Oregon 529 plans saved an average of $188.84 per month, per account in the first half of 2024.
- The average Oregon 529 account had $22,735 saved as of July 2024, up 5.25% from 2023.
- College-bound students and their families had $5.121 billion saved in Oregon 529s as of July 2024.
- The most popular savings plan is the Oregon College Savings Plan, with $3.219 billion saved in 141,250 accounts.
- Families who use the Oregon Savings Plan save the largest amount per account ($22,790).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Oregon College Savings Plan | 141,250 | $22,790 |
| Oregon MFS 529 SAVINGS PLAN | 84,002 | $22,643 |
Pennsylvania 529 Plan Statistics
Families with Pennsylvania 529 plans had 286,062 active accounts as of July 2024.
- Families with Pennsylvania 529 plans saved an average of $224.44 per month, per account in the first half of 2024.
- The average Pennsylvania 529 account had $27,262 saved as of July 2024, up 5.20% from 2023.
- College-bound students and their families had $7.799 billion saved in Pennsylvania 529s as of July 2024.
- The most popular savings plan is the Pennsylvania 529 Investment Plan, with $5.401 billion saved in 175,933 accounts.
- Families who use the 529 Investment Plan save the largest amount per account ($30,699).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Pennsylvania 529 Guaranteed Savings Plan | 110,129 | $21,772 |
| Pennsylvania 529 Investment Plan | 175,933 | $30,699 |
Rhode Island 529 Plan Statistics
Families with Rhode Island 529 plans had 157,027 active accounts as of July 2024.
- Families with Rhode Island 529 plans saved an average of $124.86 per month, per account in the first half of 2024.
- The average Rhode Island 529 account had in the first half of 2024 saved as of July 2024, up 2.97% from 2023.
- College-bound students and their families had $4.078 billion saved in Rhode Island 529s as of July 2024.
- The most popular savings plan is the Rhode Island CollegeBound 529, with $3.641 billion saved in 133,278 accounts.
- Families who use the RI CollegeBound 529 save the largest amount per account ($27,315).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Rhode Island CollegeBound 529 | 133,278 | $27,315 |
| Rhode Island CollegeBound Saver | 23,749 | $18,435 |
South Carolina 529 Plan Statistics
Families with South Carolina 529 plans had 234,121 active accounts as of July 2024.
- Families with South Carolina families with 529 plans saved an average of $255.84 per month, per account in the first half of 2024.
- The average South Carolina 529 account had $28,175 saved as of July 2024, up 5.76% from 2023.
- College-bound students and their families had $6.596 billion saved in South Carolina 529s as of July 2024.
- The most popular savings plan is South Carolina Future Scholars ‐ Advisor, with $3.989 billion saved in 134,645 accounts.
- Families who use the Future Scholars – Advisor plan save the largest amount per account ($29,624).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| South Carolina Tuition Prepaid Program | 1,399 | $18,295 |
| South Carolina Future Scholars ‐ Advisor | 134,645 | $29,624 |
| South Carolina Future Scholars ‐ Direct | 98,077 | $26,327 |
South Dakota 529 Plan Statistics
Families with South Dakota 529 plans had 20,786 active accounts as of July 2024.
- Families with South Dakota 529 plans saved an average of $357.81 per month, per account in the first half of 2024.
- The average South Dakota 529 account had $40,795 saved as of July 2024, up 5.55% from 2023.
- College-bound students and their families had $848 million saved in South Dakota 529s as of July 2024.
- The most popular savings plan is South Dakota CollegeAccess 529 Plan ‐ Advisor, with $813 million saved in 19,100 accounts.
- Families who use the CollegeAccess 529 Plan ‐ Advisor save the largest amount per account ($42,545).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| South Dakota CollegeAccess 529 Plan ‐ Advisor | 19,100 | $42,545 |
| South Dakota CollegeAccess 529 Plan ‐ Direct | 1,686 | $20,964 |
Tennessee 529 Plan Statistics
Families with Tennessee 529 plans had 27,091 active accounts as of July 2024.
- Families with Tennessee 529 plans saved an average of $128.69 per month, per account in the first half of 2024.
- The average Tennessee 529 account had $13,510 saved as of July 2024, up 6.06% from 2023.
- College-bound students and their families had $366 million saved in Tennessee 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| TNStars College Savings 529 Program | 27,091 | $13,510 |
Texas 529 Plan Statistics
Families with Texas 529 plans had 99,481 active accounts as of July 2024.
- Families with Texas 529 plans saved an average of $232.66 per month, per account in the first half of 2024.
- The average Texas 529 account had $25,926 saved as of July 2024, up 5.69% from 2023.
- College-bound students and their families had $2.579 billion saved in Texas 529s as of July 2024.
- The most popular savings plan is the Texas College Savings Plan, with $863 million saved in 42,276 accounts.
- Families who use the Texas Tuition Promise Fund plan save the largest amount per account ($38,669).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Texas Tuition Promise Fund | 31,870 | $38,669 |
| Texas Guaranteed Tuition Plan | 16,001 | $15,545 |
| Texas College Savings Plan | 42,276 | $20,417 |
| Texas LoneStar 529 Plan | 9,334 | $25,163 |
Utah 529 Plan Statistics
Families with Utah 529 plans had 515,414 active accounts as of July 2024.
- Families with Utah 529 plans saved an average of $413.48 per month, per account in the first half of 2024.
- The average Utah 529 account had $46,489 saved as of July 2024, up 5.64% from 2023.
- College-bound students and their families had $23.961 billion saved in Utah 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Utah my529 | 515,414 | $46,489 |
Vermont 529 Plan Statistics
Families with Vermont 529 plans had 29,305 active accounts as of July 2024.
- Families with Vermont 529 plans saved an average of $225.01 per month, per account in the first half of 2024.
- The average Vermont 529 account had $22,983 saved as of July 2024, up 6.24% from 2023.
- College-bound students and their families had $674 million saved in Vermont 529s as of July 2024.
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Vermont Higher Education Plan | 29,305 | $22,983 |
Virginia 529 Plan Statistics
Families with Virginia 529 plans had 3.13 million active accounts as of July 2024.
- Families with Virginia 529 plans saved an average of $389.19 per month, per account in the first half of 2024.
- The average Virginia 529 account had $33,519 saved as of July 2024, up 7.49% from 2023.
- College-bound students and their families had $105.012 billion saved in Virginia 529s as of July 2024.
- The most popular savings plan is Virginia CollegeAmerica, with $93.174 billion saved in 2.592 million accounts.
- Families who use the Virginia Prepaid529 plan save the largest amount per account ($63,737).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Virginia CollegeAmerica | 2,591,788 | $35,950 |
| Virginia Prepaid529 | 36,583 | $63,737 |
| Virginia Invest529 | 504,521 | $18,841 |
Washington 529 Plan Statistics
Families with Washington 529 plans had 90,816 active accounts as of July 2024.
- Families with Washington 529 plans saved an average of $169.39 per month, per account in the first half of 2024.
- The average Washington 529 account had $26,971 saved as of July 2024, up 3.92% from 2023.
- College-bound students and their families had $2.449 billion saved in Washington 529s as of July 2024.
- The most popular savings plan is the Washington Guaranteed Education Tuition (GET), with $1.745 billion saved in 64,648 accounts.
- Families who use the Washington DreamAhead College Investment Plan save the largest amount per account ($27,132).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Washington Guaranteed Education Tuition (GET) | 64,648 | $27,132 |
| Washington DreamAhead College Investment Plan | 26,168 | $26,573 |
West Virginia 529 Plan Statistics
Families with West Virginia 529 plans had 109,926 active accounts as of July 2024.
- Families with West Virginia 529 plans saved an average of $255.51 per month, per account in the first half of 2024.
- The average West Virginia 529 account had $27,758 saved as of July 2024, up 5.85% from 2023.
- College-bound students and their families had $3.051 billion saved in West Virginia 529s as of July 2024.
- The most popular savings plan is the West Virginia The Hartford SMART529 College Savings Plan, with $1.844 billion saved in 73,023 accounts.
- Families who use the West Virginia SMART529 Select College Savings Plan save the largest amount per account ($55,812).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| West Virginia The Hartford SMART529 College Savings Plan | 73,023 | $25,252 |
| West Virginia SMART529 WV Direct College Savings Plan | 24,344 | $20,802 |
| West Virginia SMART529 Select College Savings Plan | 12,559 | $55,812 |
Wisconsin 529 Plan Statistics
Families with Wisconsin 529 plans had 345,182 active accounts as of July 2024.
- Families with Wisconsin 529 plans saved an average of $215.76 per month, per account in the first half of 2024.
- The average Wisconsin 529 account had $22,574 saved as of July 2024, up 6.08% from 2023.
- College-bound students and their families had $7.792 billion saved in Wisconsin 529s as of July 2024.
- The most popular savings plan is Wisconsin EdVest, with $5.419 billion saved in 232,934 accounts.
- Families who use the Wisconsin EdVest plan save the largest amount per account ($23,263).
| 529 Program | Number of Open Accounts | Savings per Account as of 6/30/2024 |
|---|---|---|
| Wisconsin EdVest | 232,934 | $23,263 |
| Wisconsin Tomorrow’s Scholar 529 Plan | 112,248 | $21,143 |
Wyoming 529 Plan Statistics
Wyoming terminated its 529 programs in 2006. College-bound residents of Wyoming may qualify for other states’ programs and national 529 plans such as the Private College 529 Plan or the SMART plans.
Private 529 Plan Statistics
A consortium of private colleges and universities (under the name CollegeWell) have a 529 savings plan designed for students who wish to attend private institutions.
- American families have 7,632 Private 529 accounts.
- Families with Private 529 plans saved an average of $158.47 per month, per account in the first half of 2024.
- The average Private 529 account had $46,174 saved as of July 2024, up 2.10% from 2023.
- College-bound students and their families had $345 million saved in Private 529 accounts as of July 2024.
