Release: 529 Plan Program Statistics

529 Plan Data, December 2022

Washington, DC, May 5, 2023 — The combined assets of all Section 529 plans—“qualified tuition programs” designed to help save for higher education expenses—were $411.3 billion at the end of December 2022, a decrease of 14.4 percent since year-end 2021. At the end of December 2022, savings plans held $388.0 billion, while prepaid plans accounted for another $23.3 billion.

529 Plan Assets
Billions of dollars, end-of-period, 2007–2022

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

The number of Section 529 plan accounts was 16.0 million at the end of December 2022, an increase of 2.4 percent since year-end 2021. There were 15.1 million savings plan accounts and 0.9 million prepaid plan accounts at the end of December 2022.

529 Plan Accounts
Millions of accounts/contracts, end-of-period, 2007–2022

Note: A single beneficiary may have more than one account. Starting in 2005, the survey requests number of unique beneficiaries where possible. Accounts data collected prior to 2009 cannot be compared to newer data due to a change in the data collection methodology.

Sources: Investment Company Institute and College Savings Plans Network

For additional information on 529 plans, see ICI’s Frequently Asked Questions About 529 Plans.  For additional 529 plan data, please contact the College Savings Plans Network.