Total investments in 529s hit $508 billionFinancial experts and plan investors agree that 529 plans are a smart choice for many.
And yet, in previous years, data shows that regular contributions to a 529 college savings plan often took a back seat to paying more pressing bills or other priorities.
Fstop123 | E+ | Getty ImagesBut this year, in part because of the new changes, more parents are utilizing a 529 college savings plan, with most making recurring monthly and quarterly contributions.
In 2024, total investments in 529s jumped to $508 billion in June, up nearly 13% from $450.5 billion the year before, according to data from the College Savings Plans Network, a network of state-administered college savings programs.
How much you can contribute to a 529 plan
Persons:
Roth, David Nienaber, Martha Kortiak Mert, accountholders, Fstop123
Organizations:
College, Foster, Motley Wealth Management, Saving, College Savings Plans Network
Locations:
Miami