529 Plan Program Statistics, September 2007

Washington, DC, December 19, 2007- The combined assets of all Section 529 plans, programs designed to help pay for higher education expenses, grew 4.4 percent to $127.4 billion during the third quarter of 2007. At the end of September 2007, prepaid plans accounted for $17.5 billion, while savings plans held another $110.0 billion.

Section 529 Plan Assets 1998-2007:Q3

Note: Data were estimated for a few individual state observations in the early years in order to construct a continuous time series.
Sources: Investment Company Institute and College Savings Plans Network

Number of Section 529 Plan Accounts Increases
The number of Section 529 plan accounts increased 2.7 percent to about 10.2 million in the third quarter of 2007. There were 2.2 million prepaid plan accounts and 8.0 million savings plan accounts. The average 529 savings plan account size was about $13,700 in September 2007.

Section 529 Plan Accounts 2000-2007:Q3

*Totals are approximate. Exact figures are not available because of missing observations.
Note: A single beneficiary may have more than one account. Starting in 2005:Q1, the survey requests the number of unique beneficiaries where possible.
Sources: Investment Company Institute and College Savings Plans Network

College Savings Plan Network Program Statistics as of:

September 30, 2007
June 30, 2007
March 31, 2007

College Savings Plan Network Program Statistics
Reporting Date September 30, 2007

State or Other Territory

Value of Actual Funds ($millions)

Total Number of Accounts*/
Contracts

Date of Inception

Alabama Prepaid

$792.7

73,768

1990

Alabama Savings

$685.5

62,767

June 2002

Alaska

$3,197.9

297,453

1991

Arizona

$422.9

57,247

June 1999

Arkansas

$168.1

13,356

November 1999

California

$2,769.9

196,557

October 1999

Colorado Prepaid

$36.0

13,958

September 1997

Colorado Savings

$3,326.2

257,104

September 1997

Connecticut

$989.1

62,603

December 1997

Delaware

$399.4

25,853

July 1998

District of Columbia

$101.2

9,162

November 2002

Florida Prepaid

$6,217.4

1,236,864

1988

Florida Savings

$143.7

30,326

November 2002

Georgia

$561.6

69,159

April 2002

Hawaii

$42.6

3,371

May 2002

Idaho

$127.0

16,426

February 2001

Illinois Savings

$2,564.8

171,022

March 2000

Illinois Prepaid

$1,014.0

54,468

October 1998

Indiana

$670.3

86,242

1997

Iowa

$2,072.0

153,980

September 1998

Kansas

$1,938.0

112,833

July 2000

Kentucky Prepaid

$139.7

8,720

October 2001

Kentucky Savings

$104.0

12,761

1990

Louisiana

$164.4

30,888

July 1997

Maine

$5,414.8

198,602

August 1999

Maryland Prepaid

$579.5

32,346

April 1998

Maryland Savings

$1,497.1

111,369

December 2001

Massachusetts Prepaid

$91.0

36,777

1995

Massachusetts Savings

$2,762.7

140,340

March 1999

Michigan Prepaid

$1,027.1

84,399

1988

Michigan Savings

$1,831.3

165,745

2001

Minnesota

$636.1

46,210

September 2001

Mississippi Prepaid

$221.0

23,746

1997

Mississippi Savings

$84.1

7,913

March 2001

Missouri

$1,208.3

101,035

November 1999

Montana

$222.4

19,698

1998

Nebraska

$1,964.8

152,675

January 2001

Nevada Prepaid

$106.2

12,388

October 1998

Nevada Savings

$4,359.7

369,439

October 2001

New Hampshire

$8,062.2

546,846

July 1998

New Jersey

$2,000.6

194,925

August 1998

New Mexico

$2,028.0

142,551

September 2000

New York

$7,570.1

543,929

September 1998

North Carolina

$358.5

38,388

June 1998

North Dakota

$330.8

19,984

September 2001

Ohio Guaranteed Fund

$862.1

136,819

1989

Ohio Variable Funds

$5,543.9

712,959

2000

Oklahoma

$277.9

29,105

April 2000

Oregon

$952.8

91,389

January 2001

PA Guaranteed Savings Plan

$1,341.8

125,589

1993

Pennsylvania Investment Plan

$467.1

39,136

July 2002

Rhode Island

$8,492.2

488,559

September 1998

South Carolina Prepaid

$135.4

7,326

September 1998

South Carolina Savings

$1,029.6

71,185

March 2002

South Dakota

$718.5

50,466

May 2002

Tennessee Prepaid

$74.6

8,850

1997

Tennessee Savings

$46.2

5,256

2000

Texas Prepaid

$2,167.3

158,442

1996

Texas Savings

$231.2

24,322

September 2002

Utah

$2,416.4

103,687

1996

Vermont

$81.6

6,646

December 1999

Virginia Prepaid

$1,586.4

89,841

1996

Virginia Savings

$25,607.2

1,614,408

December 1999

Washington

$964.3

77,405

1998

West Virginia Prepaid

$105.9

9,737

October 1998

West Virginia Savings

$1,115.0

87,055

February 2002

Wisconsin

$2,200.4

230,396

1997

Wyoming**

Has partnered with Colorado to offer CollegeInvest Wyoming

 

Total

$127,422.7

10,214,771

 

*"Accounts" is unduplicated beneficiaries where possible; number of accounts otherwise.
**Closed plan September 18, 2006.
Source: College Savings Plans Network

College Savings Plan Network Program Statistics
Reporting Date June 30, 2007

State or Other Territory

Value of Actual Funds ($millions)

Total Number of Accounts*
/Contracts

Date of Inception

Alabama Prepaid

$757.7

73,670

1990

Alabama Savings

$658.8

61,485

June 2002

Alaska

$3,072.8

288,665

1991

Arizona

$422.3

55,644

June 1999

Arkansas

$163.8

13,112

November 1999

California

$2,614.5

188,551

October 1999

Colorado Prepaid

$37.1

13,959

September 1997

Colorado Savings

$3,258.2

252,621

September 1997

Connecticut

$954.5

60,356

December 1997

Delaware

$386.6

25,735

July 1998

District of Columbia

$96.6

8,848

November 2002

Florida Prepaid

$5,940.8

1,223,168

1988

Florida Savings

$136.4

29,607

November 2002

Georgia

$534.6

66,740

April 2002

Hawaii

$42.0

3,405

May 2002

Idaho

$123.3

16,038

February 2001

Illinois Savings

$2,525.6

165,898

March 2000

Illinois Prepaid

$993.6

54,265

October 1998

Indiana

$620.5

78,697

1997

Iowa

$2,000.8

151,411

September 1998

Kansas

$1,851.4

110,635

July 2000

Kentucky Prepaid

$138.0

8,720

October 2001

Kentucky Savings

$100.6

12,512

1990

Louisiana

$157.5

25,416

July 1997

Maine

$5,227.5

188,462

August 1999

Maryland Prepaid

$547.8

32,209

April 1998

Maryland Savings

$1,432.4

99,070

December 2001

Massachusetts Prepaid

$93.0

36,533

1995

Massachusetts Savings

$2,663.5

138,827

March 1999

Michigan Prepaid

$997.6

82,880

1988

Michigan Savings

$1,755.9

161,063

2001

Minnesota

$602.7

50,410

September 2001

Mississippi Prepaid

$221.0

23,458

1997

Mississippi Savings

$81.2

7,656

March 2001

Missouri

$1,175.2

97,926

November 1999

Montana

$207.0

18,159

1998

Nebraska

$1,879.6

149,670

January 2001

Nevada Prepaid

$100.6

12,342

October 1998

Nevada Savings

$4,063.6

355,781

October 2001

New Hampshire

$7,677.2

545,584

July 1998

New Jersey

$1,885.6

186,321

August 1998

New Mexico

$1,968.4

167,024

September 2000

New York

$7,296.5

531,109

September 1998

North Carolina

$336.5

35,551

June 1998

North Dakota

$327.1

17,997

September 2001

Ohio Guaranteed Fund

$898.7

136,699

1989

Ohio Variable Funds

$5,527.2

701,660

2000

Oklahoma

$264.4

33,669

April 2000

Oregon

$905.7

89,101

January 2001

PA Guaranteed Savings Plan

$1,286.4

124,201

1993

Pennsylvania Investment Plan

$437.5

34,628

July 2002

Rhode Island

$8,319.5

431,713

September 1998

South Carolina Prepaid

$129.7

7,328

September 1998

South Carolina Savings

$975.2

68,220

March 2002

South Dakota

$690.1

38,064

May 2002

Tennessee Prepaid

$73.1

8,826

1997

Tennessee Savings

$43.8

5,084

2000

Texas Prepaid

$1,873.8

152,687

1996

Texas Savings

$229.5

23,685

September 2002

Utah

$2,285.5

98,430

1996

Vermont

$72.1

6,306

December 1999

Virginia Prepaid

$1,550.1

89,838

1996

Virginia Savings

$24,047.2

1,563,888

December 1999

Washington

$935.9

76,699

1998

West Virginia Prepaid

$108.2

9,737

October 1998

West Virginia Savings

$1,065.6

93,691

February 2002

Wisconsin

$2,148.4

229,071

1997

Wyoming**

Has partnered with Colorado to offer CollegeInvest Wyoming

 

Total

$121,995.2

9,950,415

 

*"Accounts" is unduplicated beneficiaries where possible; number of accounts otherwise.
**Closed plan September 18, 2006.
Source: College Savings Plans Network

College Savings Plan Network Program Statistics
Reporting Date March 31, 2007

State or Other Territory

Value of Actual Funds ($millions)

Total Number of Accounts*
/Contracts

Date of Inception

Alabama Prepaid

$749.9

73,669

1990

Alabama Savings

$617.9

59,976

June 2002

Alaska

$2,829.9

271,606

1991

Arizona

$403.8

53,842

June 1999

Arkansas

$155.4

12,570

November 1999

California

$2,412.3

180,994

October 1999

Colorado Prepaid

$37.5

13,979

September 1997

Colorado Savings

$3,037.4

243,860

September 1997

Connecticut

$894.1

58,046

December 1997

Delaware

$360.6

24,886

July 1998

District of Columbia

$89.6

8,545

November 2002

Florida Prepaid

$5,818.4

1,223,168

1988

Florida Savings

$126.5

29,010

November 2002

Georgia

$496.5

64,357

April 2002

Hawaii

$40.5

3,423

May 2002

Idaho

$114.9

15,556

February 2001

Illinois Savings

$2,338.3

160,372

March 2000

Illinois Prepaid

$898.3

52,041

October 1998

Indiana

$553.5

71,550

1997

Iowa

$1,860.0

145,393

September 1998

Kansas

$1,711.0

115,473

July 2000

Kentucky Prepaid

$133.3

8,721

October 2001

Kentucky Savings

$95.1

12,264

1990

Louisiana

$145.9

28,254

July 1997

Maine

$4,842.7

184,208

August 1999

Maryland Prepaid

$517.0

31,511

April 1998

Maryland Savings

$1,313.0

104,667

December 2001

Massachusetts Prepaid

$93.0

36,533

1995